As a prominent Angolan private upstream oil and gas company, ACREP Exploração Petrolifera SA (ACREP SA) spans vital exploration and production operations across Angola, supported by three primary businesses: ACREP S.A., a twenty-year-old Junior E&P company, which launched in 2023, two fully controlled dedicated onshore services companies, Dinge Sondagens Lda and Bucomazi Lda. Through this arrangement, ACREP SA is able to facilitate the drilling and production services by tackling the oil and gas industry critical operational areas, focused on onshore drilling and completion, onshore producing field operations, as well as gas to power generation and distribution. Thus, with these three vital business lines under the Group, ACREP SA is well placed to support exploration and production operations across Angola, aiming to secure a preferred position on the country’s energy development for the future.
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ACREP SA, as the mother company, is focused on the exploration and production of oil and gas assets, being a non-operator partner on two offshore Blocks, and operator and partner in three onshore Blocks. Aiming to optimise the exploitation of its oil and gas onshore activities, primarily focus on marginal reserve fields, which call for a high level of synergy to enhance the operations, ACREP SA launched in 2023, a fully controlled subsidiary services company – Dinge Sondagens Lda, covering the drilling, completion and maintenance of onshore oil and gas wells, at depths of up to 3,500 metres, supported by its cement trailer, slickline, including key machinery to construct and maintain access roads to well locations and related facilities.
The second services company launched under the ACREP Group umbrella is Bucomazi Lda, an 100% owned entity, dedicated to fully managing and operating onshore oil fields production, aiming to optimise resources and day-to-day efficiency, whilst replacing third-party contracts.
ACREP S.A. began as an onshore operator, with the signature of the Production Sharing Agreements (PSA) for the Cabinda South and North Onshore blocks in 2023 and 2025, respectively. These assets have a few discovered and tested proven oil and gas reserves, with two of them developed and in production.
Bucomazi Lda has been, as of December 2025, successfully operating the two Cabinda Province onshore blocks of 1,000km2 each, where actual and future low productivity wells are expected to average as low as 15 barrels of oil per day of production. Whilst Bucomazi began operating the Castanha Oil Field on the Cabinda South Block, it will now also conduct long-term testing of the Dinge Field discovery well, located on the Cabinda North Onshore Block, through a programme approved to begin in April 2026.
The work currently being conducted across the Cabinda South block focuses on key drilling operations, with two horizontal infill wells on the Castanha Field (Cabinda South Block), which is expected to multiply production by 4 times, while confirming independent recent studies that have doubled the existing proven reserves of the asset.
Moreover, the development projects in Cabinda, also include two key gas discoveries, of which one has already been appraised and produced for some time. Thus, under ACREP’s strategy, the company plans to develop a gas-to-power project with a 25MW plant. The power plant energy will be marketed locally and regionally, given the proximity of the Democratic Republic of Congo border, and the actual low level of energy consumption per capita.
On the North Onshore Block, ACREP will begin long-term testing for the Dinge Field discovery well in 2026, seeking to evaluate its commercial feasibility and overall field development. This development joins the exploration being carried out by ACREP S.A., as it reviews and prepares to interpret the 2D and 3D seismic data of the Cabinda South block, to deliver a better understanding of the discoveries across it. With a better understanding of the discoveries, ACREP could see the opportunity to drill and deliver exploration wells in 2028-2029.
Currently, more than 100 onshore exploration and appraisal wells have been drilled in the three existing blocks in the last 60 years. Some of the exploration wells have seen success, with 20% highlighting oil and gas, which allows for the mapping of oil and gas fields. These wells have called attention to the potential of the Congo Basin source rock, known as the Bucomazi Shales, which has hydrocarbon resources of some 10 billion barrels in situ (on the Cabinda South Onshore Block area). Thus, the development represents a good base for consolidation for ACREP, as a key oil and gas company delivering hydrocarbons to Angola.
With the expertise, the Group will be well positioned to partner with multinational exploration and production companies, already well established in Angola, aiming synergies to approach the energy transition of the oil industry, whilst evaluating downstream opportunities, to join projects to supply products and commodities typical to the industry, such as power and fertilisers, namely in the Cabinda Province recognised by its fertilizers minerals potential, as the phosphates and potassium.
Furthermore, ACREP has even entered into the onshore Kwana Basin of Angola, with a license for Block 19. The block is recognised confirmed, following exploration and exploitation projects by TotalEnergies in 1945. Therefore, with ACREP now as the operator of the asset, in partnership with Afentra and Enagol, the partnership aims to launch a 200km 2D seismic campaign in 2027, which will drill the committed exploration wells in 2028, which are expected to discover up to 100 million barrels of hydrocarbon resources.
As ACREP looks towards the future, it intends to be a 25,000+ barrels of oil equivalent a day producer, consolidating the company on the gas to power utilities, whilst producing and marketing electricity for the region. The future production aims to include and presumes continued acquisition of minority interest participating in mature and relevant production assets in Angola’s shallow waters, as well as the ongoing plans to evaluate a downstream project for the development of a sizeable gas and condensate discovery on the Gajajeira-1 well in Block 1/14. These main projects are set to enhance ACREP’s development over the coming years and position it as a key company backed by its expertise across the three companies of the ACREP Group to support multinational oil and gas developments in Angola.
To enhance the adequate conditions for its next year’s ambitious plans, ACREP is also in the process of securing a long-term partnership arrangement with an international oil company, with recognised experience of conducting operations in Africa, on both oil and gas, and gas to power production and distribution. Furthermore, across ACREP and its subsidiaries, the company is set on enhancing the hydrocarbon industry of Angola, supported by its diverse business lines that span all the critical areas of the oil and gas industry.
With this expertise, ACREP is primed to support multinational exploration and production projects across Angola, solidifying its place as a key private upstream oil and gas company. We look forward to seeing how ACREP continues to expand its portfolio across Angola’s hydrocarbon market, working alongside key exploration and production companies to enhance the energy sector of Angola towards the future.
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