Eni, bp finalise Azure Energy in Angola

bp and Eni signed an agreement to form a new independent company, Azule Energy in Angola, following a memorandum of understanding between the companies agreed in May 2021.

“Azule Energy will be a new international energy company, independently managed, with more than 200,000 barrels equivalent a day (boe/d) of net oil and gas production and 2 billion barrels equivalent of net resources,” the companies said in a statement. 

This company is set  to be Angola’s largest producer, holding stakes in 16 licences, as well as participating in the Angola LNG joint venture.

Azule Energy will  take over Eni’s stake in Solenova, a solar company jointly held with Sonangol.

“Azule Energy will have a strong pipeline of new projects starting up over the next few years, including the new Agogo and PAJ oil projects in Blocks 15/06 and 31 respectively,” they added.

 It will also develop the New Gas Consortium (NGC), the first non-associated gas project in Angola- which will support the energy needs of the country.