ACREP E&P Angolan Company

What ACREP E&P Angolan Company does

ACREP E&P Angolan Company (legal name EXPLORAÇÃO PETROLÍFERA, S.A.) is an independent Angolan upstream oil and gas company founded in December 2003 with headquarters in Luanda, Angola, and a regional office in Windhoek, Namibia. The company holds non-operated and operated interests across multiple offshore and onshore blocks in Angola (Block 4/05, Block 1/14, Block Cabinda Norte, and Block Cabinda Sul) and operates Namibia Blocks 1718 & 1818 with a 70% interest. ACREP transitioned from a non-operating partner to an operator in 2023 after acquiring a 55% participating interest in onshore Block Cabinda Sul, where it currently produces approximately 280 B/d with a 2024 target of 600 B/d.

The company's core business is the exploration and production of crude oil, with cumulative production exceeding 7 million barrels and proven recoverable reserves of more than 35 million barrels. Its technology stack includes 3D seismic survey acquisition and interpretation (covering 3,250 km2 in Block 1/14), drilling operations conducted through its wholly-owned subsidiary Dinge Sondagens using an HH220 rig capable of 3,000-meter depth wells, and a planned gas-to-power conversion system anchored by a 25 MW thermal power plant at the Noz Gas Field. ACREP reports under IFRS, posted USD 41.85 million in 2022 revenue and USD 13.9 million in net profit, and maintains an average production cost of USD 59.68 per barrel.

ACREP makes money primarily through the export of crude oil produced from its operated and non-operated blocks, with planned future revenue from electricity generation and distribution in Cabinda and ancillary drilling services through Dinge Sondagens. In February 2024 the company launched an IPO on the Angola Stock Exchange (BODIVA) at AOA 75,000–91,500 per share, with a stated dividend payout policy of up to 30% of net profit. Its customer base includes international oil company joint venture partners (Sonangol P&P, ENI Angola, Equinor, Total, Azule Energy, Premier Oil & Gas, NAMCOR) and, post-listing, retail and institutional equity investors on BODIVA.

Name

ACREP E&P Angolan Company

Legal name

EXPLORAÇÃO PETROLÍFERA, S.A.

Website

https://acrepsa.ao

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

ACREP E&P Angolan Company is an independent Angolan upstream oil and gas company founded in 2003, operating exploration and production assets in Angola and Namibia, producing ~280 B/d from Block Cabinda Sul as operator, and pursuing gas-to-power generation via a planned 25 MW plant while listed on BODIVA.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112), Crude Petroleum Extraction (211120), Oil and Gas Field Machinery and Equipment Manufacturing (333132), Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311), Drilling Oil & Gas Wells (1381), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Mineral Rights, Leasing & Land Management (EUALAAAB)

akta.pro secondary industries

Drilling & Workover Rigs (Land & Offshore) (EUALABAA), Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE)

Keywords

• Oil exploration production
• Crude oil extraction
• Gas-to-power generation
• Upstream oil services
• Drilling services

Headquarters

HQ city

Luanda

HQ country

Angola

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Crude Oil Production and Export: Revenue from production and export of crude oil from operated and non-operated blocks. Cumulative production exceeds 7 million barrels. Current production from Block Cabinda Sul at approximately 280 B/d, with targets of 600 B/d in 2024.
2. Electricity Generation and Distribution: Planned revenue from the 25 MW thermal power plant in Cabinda, converting gas from Noz field into electricity for distribution to communities and commercial sale. Target of 480,000 kW/h/day.
3. Drilling Services: Revenue from subsidiary Dinge Sondagens providing drilling and well maintenance services using the HH220 rig with capacity up to 3,000 meters depth

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

ACREP is an upstream oil and gas exploration and production company that acquires participating interests in offshore and onshore blocks in Angola and Namibia, conducts 3D seismic surveys and exploration drilling, produces and exports crude oil, and is developing gas-to-power electricity generation. The company also provides in-house drilling and well maintenance services through its wholly-owned subsidiary Dinge Sondagens and recently transitioned to operator status with the 55% acquisition of Block onshore Cabinda Sul.

Product overview

ACREP is an Angolan oil and gas exploration and production company offering integrated services including exploration activities (seismic surveys, drilling), crude oil production from offshore and onshore blocks, and planned energy generation through natural gas conversion. The company operates through its core production business and provides drilling services via its Dinge Sondagens subsidiary. The product portfolio encompasses the full upstream oil and gas value chain from exploration to production and energy generation.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production
• Gas-to-Power Electricity Generation
• Drilling and Well Maintenance Services
• Seismic Survey and Exploration Services

Quantifiable outcome

• Cumulative production exceeds 7 million barrels of oil
• +5 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Sonangol Pesquisa e ProduçãocoreStrategic or Co-development Partner · 1 January 2005Operator of Block 4/05 where ACREP holds 15% participating interest. Sonangol is Angola's national oil company and primary concessionaire for petroleum operations.
• ENI AngolacoreStrategic or Co-development PartnerOperator of Block 1/14 where ACREP holds 10% participating interest. Joint conduct of exploration program including 3D seismic survey covering 3,250 km2.
• Equinor AngolacoreStrategic or Co-development PartnerConsortium partner in Block 1/14 exploration alongside ENI Angola and Sonangol P&P, with ACREP holding 10% participating interest.
• AFENTRAcoreStrategic or Co-development PartnerPartnership for future operation of KON-19 block, contributing to ACREP's expanded operational portfolio.
• Total Exploração e Produção AngolacoreStrategic or Co-development PartnerInternational oil company partner in energy sector investments including solar power generation projects in southern Angola.
• Azule Energy AngolacoreStrategic or Co-development PartnerPartner in energy transition projects including solar power generation in Angola's southern region.
• Somoil SAminorStrategic or Co-development PartnerFormer partner in Block 4/05 and Block 2/05. Desinvestment completed in 2020. Previously held 25% in Block 17/06.
• NamcorminorStrategic or Co-development PartnerNamibian national oil company holding 7% in Blocks 1718 & 1818 where ACREP operates with 70% interest.
• Premier Oil & GasminorStrategic or Co-development PartnerPartner with 20% interest in Namibia Blocks 1718 & 1818 exploration program.
• Dinge SondagenscoreStrategic or Co-development PartnerWholly-owned subsidiary acquired the HH220 Italian drilling rig in 2023 with 3,000 meter depth capacity for in-house well drilling and maintenance operations.
• BODIVAcoreChannel Partner/ Reseller/ DistributorAngola Stock Exchange where ACREP conducted IPO in February-March 2024, listing shares for public trading.
• ÁureacoreChannel Partner/ Reseller/ DistributorFinancial intermediary and consultant for ACREP's IPO process, providing brokerage and investment services.
• Banco Poupança e Crédito (BPC)coreChannel Partner/ Reseller/ DistributorFinancial intermediary offering ACREP shares to public investors as part of IPO and holding shares for sale in public offering.
• Hemera Capital PartnersminorImplementation/ SI/ Consulting PartnerFinancial consultant advising ACREP on IPO process and stock exchange listing requirements.
• KPMGminorImplementation/ SI/ Consulting PartnerAudit and financial advisory services for IPO preparation and IFRS compliance.

Scale indicators19 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• VAALCO Energy: Small-cap independent E&P operating in West Africa (Gabon, Côte d'Ivoire) and historically holding assets in Angola; comparable in size, daily production scale, and operated-plus-non-operated asset mix.
• Maurel & Prom: Paris-listed independent E&P with a portfolio focused on Africa (notably Tanzania, Gabon, and Congo) producing oil from operated and non-operated fields, comparable in scale, geographic mix, and minority-partner model to ACREP.
• Africa Oil Corp: Canadian-listed pure-play Africa E&P with significant exposure to deepwater exploration and minority partnership interests (notably with TotalEnergies in Uganda), structurally similar to ACREP's minority non-operated Block 1/14 stake.
• Afentra plc: London-listed Africa-focused upstream company with operated and non-operated interests offshore Angola (Block 3/05, Block 17/06 KON-19) and a stated partnership with ACREP on future KON-19 operations, making it a direct asset-level peer.
• Panoro Energy: Africa-focused upstream independent with operated and non-operated production offshore West Africa (Gabon, Equatorial Guinea, Côte d'Ivoire); comparable in scale, asset mix, and partnership-with-IOC structure to ACREP.
• Somoil SA: Angolan state-linked E&P company that has been a former partner of ACREP in Block 4/05 and Block 2/05, with overlapping onshore/offshore acreage and similar local-content focus in Angola's oil sector.

Others

• Petrofac: UK-listed oilfield services and EPC company with exposure to African upstream operators; relevant as a comparable for ACREP's drilling services arm (Dinge Sondagens) and broader oilfield services capability in Angola.

Broad incumbents

• Tullow Oil: London-listed independent E&P with major West and East African upstream positions (Ghana, Côte d'Ivoire, Uganda) and a non-operated minority model similar to ACREP's Block 4/05 / Block 1/14 stakes, though at materially larger scale.
• Galp Energia: Portuguese integrated energy company with material upstream operations offshore Angola (Blocks 14, 17, 32), providing a relevant incumbent benchmark for Angola-specific upstream economics and partner dynamics.
• Azule Energy: BP–Eni joint venture consolidating Angolan deepwater assets and a stated partner of ACREP in Angola solar/energy-transition projects, making it both an adjacent upstream peer and a partner in ACREP's diversification strategy.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/acrepsa

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACREP E&P Angolan Company