The independent oil company Etu Energias, formerly Somoil, signed an agreement with Africa Finance Corporation (AFC) on Thursday, November 30, last year. It was for the purpose of providing financial support in connection with the oil activities it carries out in Angola.

The AFC invested $60 million in Etu Energias. This direct injection of funds, which is accompanied by an open credit line of a total amount of $190 million. The entire transaction should allow the company to complete the acquisition process of Angola Block 14 B.V., a joint venture between TotalEnergies and Inpex