Walcot Group Signs Production Sharing Contract with ANPG for Block KON 1
Luanda / May 5, 2026 — Walcot Group is pleased to announce the signing of a Production Sharing Contract (PSC) with the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG) for the KON 1 block, located in the onshore Lower Kwanza Basin.
The KON 1 block represents a significant strategic milestone for Walcot, strengthening the company’s footprint in Angola and underlining its commitment to responsible and efficient resource development in one of Africa’s most prospective hydrocarbon regions.
Covering an area of approximately 1,575.75 km², the KON 1 block benefits from an established exploration history, including 16 drilled wells and 205.5 km of 2D seismic data. Current estimates place the Stock Tank Oil Initially in Place (STOIIP) between 935 million and 1.617 billion barrels of oil, highlighting the block’s substantial potential.
Under the terms of the agreement, Walcot will act as operator with a 100% equity stake, enabling the company to implement a focused and agile exploration and development strategy.
A spokesperson for Walcot Group commented:
“This agreement marks an important step forward for Walcot. KON 1 offers a compelling combination of existing data and significant upside potential. We look forward to working closely with ANPG and contributing to Angola’s energy sector through responsible investment and technical excellence.”
The company will now proceed with detailed technical evaluations and planning for the next phase of exploration activities.
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