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A 100% Angolan-owned exploration and production company, marks a key transaction for Chariot.
The deal, which is expected to be finalized later this year, has been supported by significant financing from Shell Trading.
The field, which has produced over 900 million barrels of high-quality crude oil since 1999, currently yields approximately 40 kbopd. Block 14K, an adjacent unitized area with a maritime border crossing to the Republic of Congo, also ties back to Block 14 and is set to contribute to the company’s reserves.
The acquisition is anticipated to bring valuable oil barrel income and support future growth for the company.
