3 Angolan tycoons built Etu Energias into a $1 billion oil empire and just blocked Chevron's $260 million deal
Billionaires Africa | 06.06.2026 03:04
In March 2026, Energean plc announced what its chief executive Mathios Rigas called a historic moment: a deal to acquire Chevron's interests in two Angolan offshore blocks for a base consideration of $260 million, with contingent payments of up to $250 million more through 2038. It was the British company's first venture into sub-Saharan Africa, a significant geographic expansion for a firm that had spent years building its gas portfolio in the Eastern Mediterranean while regional conflict repeatedly shut down its Israeli fields.
