Kinshasa, DRC — Chariot Energy Company, an Africa-focused energy firm, has announced the completion of a significant acquisition involving a 20% working interest in Block 14 and a 10% interest in Block 14K offshore Angola. This acquisition is a pivotal step in the transaction process, following an earlier announcement on February 19, 2026.
The sale and purchase agreement (SPA) was signed by a subsidiary of Chariot with Etu Energias S. A. A 100% Angolan-owned exploration and production company. Chariot expressed its satisfaction in securing the necessary funding and supporting Etu Energias in this strategic move, with additional financing support from Shell Trading.
Block 14, a mid to late-life producing asset, has been operated by Chevron since 1995 and has a remaining license term of 13 years. Since its first oil production in 1999, the field has cumulatively produced over 900 million barrels of high-quality crude, with current production at approximately 40 kbopd. Adjacent to Block 14 is Block 14K, which produces around 1 kbopd on a gross basis and has no expiry until 2030.
The acquisition grants Chariot economic exposure to significant oil production in one of the world’s premier oil provinces, with the potential for strong future cashflows. The deal includes material upsides, such as further development of the PKBB discovery and additional neighboring discoveries that can leverage existing production and processing infrastructure.
As the transaction progresses, Chariot looks forward to working alongside Etu Energias and Shell Trading towards the completion of the acquisition later this year.
Source: Panafricanvisions
