– Nigeria-Angola Energy Collaboration
– Walcot Group’s Expansion in Angola
– Lower Congo Basin Oil Exploration
Walcot Group, a Nigerian energy firm, has signed a Memorandum of Understanding (MoU) with Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG) to enhance collaboration in the oil and gas sector. The agreement grants Walcot Group full operatorship and 100% participation interest in Blocks CON-3 and CON-7, located in Angola’s Lower Congo Basin. These blocks are estimated to hold between 710 million and 1.25 billion barrels of prospective oil resources.
Christopher Nwuabueze, Founder and President of Walcot Group, described the partnership as a transformative step in expanding the company’s footprint across Africa’s energy landscape. The MoU is expected to strengthen Nigeria-Angola trade relations and contribute to regional energy security.
