Afentra (AIM: AET) has switched the drilling order on Block 3/05 offshore Angola, sending the Borr Grid rig to Impala-2 immediately and delaying the Pacassa SW sidetrack. The upstream oil and gas company, focused on African production and development assets, announced the change today.
The joint venture agreed the new sequence, which Afentra says is designed to optimise the drilling schedule and rig use. Impala-2 can progress while final preparations and equipment mobilisation for the Pacassa SW sidetrack, a new bore drilled off an existing well, are completed.
Afentra expects Impala-2 to spud, meaning start drilling, in mid-October 2026. Drilling and completion should take about 80 days, with completion targeted for the end of December. First oil is expected in January 2027 at an initial gross rate of about 4,000 barrels of oil per day (bopd).
Data from the successful Impala-1 intervention, which restarted production from that well, has been built into the Impala-2 plan. Afentra anticipates a material incremental resource upgrade for the Impala field once the well is complete, though it gave no figure.
Funding has also changed. The partners chose to fund Impala-2 directly rather than use the previously agreed carry mechanism, under which partners fund a share and recover later. Afentra says this lets it share in production revenues from first oil and take the full capital expenditure uplift available under the Production Sharing Contract. The well cost cap stays, at a reduced $60m gross, protecting against overruns.
Pacassa SW was a successful oil discovery, with 136 metres of net oil pay. The well must be sidetracked because of operational problems restricting access to the wellbore, and that work is still in planning and procurement. Afentra now expects first oil in the first quarter of 2027, after connection to existing Pacassa infrastructure.
Remapping of the discovery continues, and Afentra expects it to confirm incremental oil resources of up to around 70 million barrels, as predicted before drilling. Chief executive Paul McDade said:
“We now have two important production wells progressing through the programme, providing the potential for meaningful near-term production and cash flow growth as we continue to unlock the significant value within the asset.”
Paul McDade, CEO, Afentra
Afentra holds 30% of Block 3/05, which it does not operate. A trading update is due in November 2026, and a hydraulic workover programme on the block is planned for early 2027.
