Red Sky Energy is advancing its investments in Angola with a 35% stake in Block 6/24. The company aims to create a significant profit center while acquiring additional assets in the region. Their strategy includes reprocessing seismic data and fast-tracking resource development to capitalize on the potential of this prime oil region.
Australian exploration firm Red Sky Energy is expanding its presence in Angola by acquiring a 35% stake in Block 6/24, which will be pivotal for its growth strategy in the region. CEO Andrew Knox shared that this acquisition signifies the company’s entry into Africa, with plans to develop existing and productive fields.
To establish Block 6/24 as a significant profit center, Red Sky is collaborating with partners Sonangol and ACREP, while also exploring additional asset acquisitions. Knox emphasized the company’s focus on proven resources that can be rapidly developed in Angola’s burgeoning oil sector.
Red Sky intends to enhance the development process through advanced seismic data reprocessing, which will clarify resource volumes in Block 6/24. The company is currently reviewing strategies for re-entering existing wells or sidetracking to expedite resource development while prioritizing efficiency.
Block 6/24, located in the Kwanza Basin, is approximately 4,930 km² and includes the Cegonha discovery from the late 1980s, estimated at a potential 150 million barrels. Previous operators of the block include major firms such as TotalEnergies and ConocoPhillips, reinforcing the block’s geological promise.
Knox outlined an aggressive timeline for drilling, stating, “We will not wait three years to drill the well; this is the timeframe for when we need to make a decision to drill.” This urgency reflects the competitive landscape in Angola, where several companies are pursuing similar opportunities.
The Angola Oil & Gas (AOG) event, set for September 3-4, 2025, is a key platform connecting international firms with local opportunities. Supported by the Angolan government and major industry players, AOG has proven vital for companies seeking to navigate the market.
Knox highlighted the importance of AOG, stating, “AOG was instrumental for us in so many ways…” Likewise, Afentra’s CEO, Paul Mcdade, praised AOG for facilitating critical interactions with stakeholders, strengthening relationships crucial for operational success in Angola’s energy sector.
Red Sky Energy’s entry into Angola via Block 6/24 marks a strategic move to leverage the country’s rich oil resources, supported by targeted partnerships and rigorous development plans. The company’s proactive approach, including advanced seismic analysis and efficient operational strategies, positions it favorably within a competitive landscape that features other prominent industry players. The upcoming Angola Oil & Gas event will further enhance Red Sky’s efforts to expand its footprint in this promising market.
Original Source: energycapitalpower.com
