Etu Energias closes $1 billion in M&A deals as it targets 80,000 bpd output by 2030
Etu Energias has reinforced its expansion drive in Angola, closing nearly $1 billion in mergers and acquisitions over the last three years. CEO Edson dos Santos highlighted the company’s strategic ambitions during the Angola Oil & Gas 2025 Conference and Exhibition, emphasizing that Etu Energias continues to seek new deals with the right partners.
“Over the last three years, we have done close to $1 billion worth in M&A transactions. With the right partners, you can expect more M&A coming up for Etu Energias,” dos Santos said.
With a goal of boosting oil production to 80,000 barrels per day (bpd) by 2030, the company is executing an aggressive exploration and production strategy. Etu Energias, the largest private oil producer in Angola, is running eight exploration projects, 10 development projects, and seven redevelopment projects to achieve this target.
Expansion through exploration and drilling
Offshore, Etu Energias launched drilling activities at Block 2/05 in July 2025. The program includes three development wells, one exploration well, and five technical interventions across existing wells. The company also plans to complete exploration studies for the block within 2025, with drilling scheduled for 2025 and 2026.
Onshore, seismic research remains a priority as the company advances exploration and positions itself to unlock new development projects. According to dos Santos, all company activities are geared toward achieving the 80,000 bpd production goal.
Preparing for capital markets
To finance these ambitious activities, Etu Energias is preparing to list on the stock market with an Initial Public Offering (IPO) in 2026. The move will give the company access to new capital pools, supporting both exploration and production growth.
Dos Santos confirmed during his fireside chat at the conference that the IPO remains firmly on track, signaling a new phase for the company’s evolution as it looks to scale its role in Angola’s energy future.
