Luanda - The National Oil, Gas and Biofuels Agency (ANPG) and Azule Energy on Wednesday in the Province of Luanda signed risk service contracts for offshore Blocks 46 and 47 in partnership with Equinor energy company and Angola´s oil company Sonangol Research and Production, S.A. ("Sonangol P&P"), as well as Block 18/15 in partnership with Sonangol P&P.
The contracts that are the result of direct negotiations represent a positive development for exploration activities in Angola's Lower Congo Basin.
Azule Energy is operator of three blocks, with a 40% participating interest in Blocks 46 and 47 and 80% in Block 18/15, while Sonangol P&P holds a 20% participating interest in each block and Equinor holds a 40% participating interest in Blocks 46 and 47.
The three licences cover an area of approximately 8,700 square kilometres in the deep and ultra-deep waters off the Angolan coast.
For Azule Energy, following the execution of the Production Sharing Contract for Block 31/21 in August 2023, this is the second granting of licences for exploration blocks in which Azule Energy has been involved since the establishment of the Joint Venture between British Petroleum Company (BP) and Italian multinational energy company (ENI) set in August 2022.
The Azule Energy CEO, Adriano Mongini informed that the company continues its mission as a strategic partner and to be the largest oil and gas producer in Angola, adding that the Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that could be a accelerator for oil and gas opportunities.
He revealed that the exploration of Block 18 and 15, also has a lot of potential to take advantage of synergies with the production facilities already existing in Block 18.
The official said that Azule Energy has a strong track record in exploration and good commercial relations with Equinor, as well as Sonangol, so together they are truly committed to promoting their knowledge of the basin and finding significant resources in these new licences.
Azule Energy is an international energy company based in Angola. It has a daily production of over 220,000 barrels of oil and gas and more than 2 billion barrels of resources. The company supports Angola´s energetic sector development and its transition for cleaner sources. Azule Energy's portfolio includes more than 20 oil and gas licences, of which it is the operator of 8.
It is also the operator of the New Gas Consortium, a shareholder in Angola LNG and a shareholder in Solenova Lda joint venture owned by Azule Energy, (50/50) with Sonangol dedicated to the development of renewable energy sources and owner of the Caráculo photovoltaic plant.
Azule Energy prioritises sustainability, innovation and growth, believing that investment in oil and gas, together with decarbonisation and renewable energy technologies, can make Angola's energy system more resilient and reliable.
VM/MRA/jmc
