Corcel, Sintana Energy Partner as Angola Oil & Gas (AOG) 2025 Champion Sponsor Amid Onshore Kwanza Drive
Sintana Energy entered the Angolan market in May 2025 through the establishment of a strategic partnership with Corcel. The partners signed an agreement whereby Sintana acquired a 5% indirect net interest in Block KON 16 in the onshore Kwanza Basin. The acquisition was a result of Sintana securing a 5.88% stake in a newly-formed Special Purchase Vehicle – now holding Corcel's 85% interest in KON 16. Set to close in Q3, 2025, the $2.5 million transaction will fund future exploration activities at the block, underscoring the value of partnerships in financing exploration and production in Angola.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Block KON 16 is considered a highly prospective asset with proven petroleum systems in both post- and pre-salt intervals. To unlock this potential, the partners have executed a joint study and bid agreement to assess exploration and production opportunities. Furthermore, Corcel mobilized £1.1 million via a share placing to support ongoing exploration efforts. The funds will be deployed towards the execution of a 2D seismic program at KON 16 in Q3, 2025. Purpose Global Resource Fund led the placing and has joined Corcel as a new institutional shareholder. Beyond Block KON 16, Corcel also has non-operated interests in Blocks KON 11 and KON 12. These brownfield development opportunities historically produced oil via the Tobias and Galinda fields – with peak output reaching 17,500 barrels per day (bpd) and 2,700 bpd respectively. In 2025, Corcel restarted intervention activities at the Tobias-13 and Tobias-14 wells in Block KON 11, targeting pre-salt and post-salt leads. Data was also collected for Block KON 12.
Corcel and Sintana Energy's AOG 2025 sponsorship aligns with these efforts and is expected to create new avenues for industry collaboration and engagement. The partners have demonstrated their willingness to partner to unlock Angolan onshore production as well as their commitment to exploring potential exploration and production prospects. For Sintana Energy, Angola offers a strategic investment opportunity, whereby the company can leverage its experience in neighboring Namibia to deliver commercial finds. Sintana Energy currently has stakes in several promising onshore and offshore licenses in Namibia, including the offshore PEL 79 – which holds the Mopane discoveries – PEL 82, PEL 83, PEL 87 and PEL 90. Onshore, the company has stakes in PEL 103 in the Waterberg basin.
Distributed by APO Group on behalf of Energy Capital&Power.
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