Energean provides an update on the proposed acquisition from Chevron of a 31% operated interest in Block 14 and a 15.5% non-operated interest in Block 14K, offshore Angola, announced on 12 March 2026. The Company has been informed by the seller, Chevron, that it has received notice from one of the joint venture partners, Etu Energias, purporting to exercise its pre-emption rights in relation to the Transaction.

The sale and purchase agreement entered into between Energean and Chevron remains in effect until: (i) the relevant pre-emption right is determined to have been validly exercised and executed; and (ii) a new sale and purchase agreement between Chevron and Etu Energias has been executed and completed.

The Company notes that any assignment to Etu Energias must be made on the same or equivalent terms as the sale and purchase agreement between Energean and Chevron. This includes the condition precedent requiring the buyer to deliver evidence to the seller that it is a proven deepwater oil and gas operator of at least one existing deepwater producing asset in water depths greater than 300 metres, both within 15 days after signing and as at the unconditional date.

KeyFacts Energy: Energean Angola country profile