By Ayomide Otitoju
Angolan independent energy company etu energias has finalized a structured disbursement agreement to fund capital expenditure and development activities tied to its 7.5% interest in Block 17/06, home to the Begonia project.
The deal was signed Thursday at African Energy Week 2025 in Cape Town by Edson Dos Santos, CEO of etu energias; Matthew Thomas, Senior Relationship Manager – Structured Debt at Mauritius Commercial Bank (MCB); and Vianney Faucheur de Battisti, Head of Structured Trade Finance, New Ventures at TotalEnergies Trading SA.
Located offshore, the Begonia project is Angola’s first inter-block development and began production earlier this year. Output is expected to reach 30,000 barrels per day. Partners on the block include Sonangol E&P, SSI, etu energias and Falcon Oil, with TotalEnergies serving as operator.
Dos Santos hailed the deal as “an important transaction” for etu energias, Angola’s largest privately-owned energy company.
De Battisti said the agreement reinforced TotalEnergies’ long-standing partnership with etu energias, while Thomas described it as a “landmark moment” for MCB, noting the bank’s commitment to supporting African independents in achieving operational efficiency and growth.
