Energean Oil announced an agreement with Chevron to acquire a 31% operating interest in Angola offshore Block 14 and a 15.5% non-operating interest in Block 14K.

This transaction marks an important expansion of Energean's oil and gas asset portfolio in Africa, while also reflecting Chevron's ongoing strategic adjustment to optimize its global asset portfolio. By acquiring the operating interest in Block 14, Energean will gain the leading role in exploration and development in the region, while the non-operating interest in Block 14K will provide a stable basis for production sharing. The offshore area of Angola, as a key oil and gas producing region in West Africa, is expected to offer Energean long-term production growth potential through this deal. The acquisition of interests is still subject to approval by relevant regulatory authorities, and upon completion, it will further enhance Energean's participation in the global upstream business sector. The specific transaction amount has not been disclosed by both parties, but market analysts believe that the agreement aligns with the current active trend of international oil and gas asset transfers.