Walcot Group Secures Full Ownership of Block CON 7 in Angola
Walcot Group is pleased to announce the execution of the Production Sharing Contract (PSC) for Block CON 7 in Angola, where Walcot Limited holds a 100% participating interest and will act as operator.
The PSC has been signed with the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG), marking a significant step in Walcot Group’s strategic expansion across Africa’s upstream energy sector. Full ownership of Block CON 7 underscores the company’s confidence in Angola’s hydrocarbon potential and its commitment to long-term investment in the region.
Located in a promising geological setting, Block CON 7 offers substantial exploration upside. Walcot Group intends to leverage its technical expertise and agile operating model to efficiently advance exploration activities and unlock the block’s resource potential.
As operator, Walcot Limited will lead all phases of the project—from seismic evaluation and drilling to potential development—while maintaining close collaboration with ANPG and adhering to the highest standards of operational excellence, environmental responsibility, and regulatory compliance.
This milestone represents a natural progression of Walcot Group’s strategy to build a diversified and high-quality upstream portfolio in Africa. Operatorship provides the company with strategic flexibility and direct control over capital allocation, timelines, and development concepts, positioning it to maximize long-term value creation.
Walcot Group remains committed to contributing to Angola’s energy ambitions, supporting local economic development, and fostering sustainable partnerships within the country’s oil and gas ecosystem.
Walcot Group looks forward to commencing operations on Block CON 7 and to deepening its engagement with stakeholders across Angola.
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