Angolan independent etu energias has finalized a structured disbursement agreement to finance capital expenditure and development activities for its 7.5% participating interest in Block 17/06, home to the Begonia project. 

The agreement was signed by Edson Dos Santos, CEO, etu energias; Matthew Thomas, Senior Relationship Manager – Structured Debt, Mauritius Commercial Bank (MCB); and Vianney Faucheur de Battisti, Head of Structured Trade Finance, New Ventures, TotalEnergies Trading SA at African Energy Week 2025 in Cape Town on Thursday.  

The Begonia project, located in offshore Block 17/06, is Angola’s first inter-block project and began production earlier this year, with an expected output of 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 described the agreement as “such an important transaction” for etu energias, which is Angola’s largest privately-owned energy company. 

“As a long-time partner of etu energias, we are pleased to continue our collaboration and grow it further with this transaction,” said de Battisti. 

“This is a landmark moment for MCB. We have been active in African markets for quite some time, and we are proud to support African E&Ps in driving efficient operations and growth,” added Thomas.