Angola represents one of the biggest oil and gas producers in Africa. Offering a wealth of opportunities for players across the country’s entire energy value chain, this position is set to be further consolidated in the years ahead as a mix of global, regional and Angolan-based companies spearhead new investments into the market. Companies such as Etu Energias, formerly known as Somoil, already play a central role in expanding the market. The African Energy Chamber (AEC) is proud to announce that Etu Energias will participate as a Silver Sponsor at the highly anticipated African Energy Week (AEW) conference and exhibition, scheduled to take place October 16–20 in Cape Town.
Etu Energias, serving as Angola’s largest private oil company, has rapidly emerged as a key player in the energy sector, and its commitment to excellence and sustainability is truly commendable. With a legacy of over two decades, Etu Energias is a key player in the industry, actively contributing to Angola’s energy development. Founded in 2000, Etu Energias has been committed to building a robust business model and a strong asset base. Its journey began with solar energy activities and consulting services, and since then, the company has made significant strides in the energy sector.
Etu Energias encompasses five subsidiary companies, strategically advancing excellence, innovation, and sustainability. From Etu Energias International in Hong Kong facilitating global crude oil trading, to Etu Energias Renováveis (Renewables) pioneering clean energy solutions such as solar, biomass, and wind, these subsidiaries exemplify Etu Energias’ commitment to comprehensive energy provision. Simultaneously, Etu Energias Distribuição (Distribution) efficiently markets and distributes crude oil products, manages fuel stations, and offers general services. In the upstream sector, Etu Energias Upstream Operados (Operated) oversees operated blocks, covering exploration to marketing while Etu Energias Upstream Participações (Participations) plays a key role in non-operated block management. This holistic approach underscores Etu Energias’ unwavering dedication to industry excellence and innovation, making a substantial contribution to Angola’s sustainable energy future.
Today, Etu Energias operates four key blocks and has set ambitious production targets, aiming to increase oil production in Angola to 50,000 barrels per day (bpd) by 2025 and an impressive 100,000 bpd by 2030, marking a significant contribution to Angola’s energy landscape. In 2022, Etu Energias acquired non-operated interests in Angola’s offshore Block 14 from global energy giant TotalEnergies, demonstrating its commitment to growth and innovation. This was followed by the acquisition of multinational energy corporation Galp’s entire Angolan upstream portfolio in February 2023.
Etu Energias is not only focused on growth but also on sustainability. The company is committed to promoting clean and renewable energies, including solar, solar thermal, photovoltaic, biomass, hydro or mini-hydro, wind, and waste. By diversifying its energy portfolio, Etu Energias actively contributes to a more sustainable and eco-friendly future.
Furthermore, Etu Energias has a growing presence in distribution, currently operating two Sonangol fuel stations with plans for expansion in this sector. This expansion aligns with the company’s vision of providing efficient and sustainable energy solutions to its customers.
“As Africa’s energy landscape evolves, Etu Energias stands as a beacon of innovation and sustainability, driving progress not only for Angola but for the rest of the continent. The company’s commitment to excellence in both conventional and renewable energy solutions is reshaping the country’s energy future and contributing significantly to Angola’s economic development,” states NJ Ayuk, Executive Chairman of the AEC.
As a Silver Sponsor of AEW 2023, Etu Energias will engage with industry leaders, innovators, and experts to further discuss the future of energy in Africa. The company is committed to developing, investing and growing Africa’s energy market, and as such, represents a strong partner for the Angolan government and global E&P players alike.
AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://aecweek.com.
