Angola: Azule Energy and ANPG sign service contracts for oil blocks.

The Agence Nationale du Pétrole, du Gaz et des Biocarburants (ANPG) and Azule Energy, in Luanda province, have signed risk services contracts for offshore blocks 46 and 47 in partnership with energy company Equinor and Angolan oil company Sonangol Research and Production, as well as block 18/15 in partnership with Sonangol P&P.

Contracts resulting from direct negotiations represent a positive development for exploration activities in Angola's Lower Congo Basin.

Azule Energy is the operator of three blocks, with a 40% interest in blocks 46 and 47 and an 80% interest in block 18/15, while Sonangol P&P holds a 20% interest in each block and Equinor holds a 40% interest in blocks. 46 and 47.

The three licenses cover an area of around 8,700 square kilometers 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 exploration block license award in which Azule Energy has been involved since the creation of the joint venture between British Petroleum Company ( BP) and the Italian energy multinational (ENI) in August 2022.

Azule Energy CEO Adriano Mongini informed that the company is pursuing its mission to be a strategic partner and the largest oil and gas producer in Angola, adding that blocks 46 and 47 have never been explored before and represent a new frontier exploration area that could be a gas pedal for oil and gas opportunities.

He revealed that exploration of Blocks 18 and 15 also has great potential to capitalize on synergies with existing production facilities on Block 18.

The executive said that Azule Energy has strong exploration experience and good commercial relationships with Equinor, as well as Sonangol, so together they are genuinely committed to promoting their knowledge of the basin and finding significant resources in these new licenses.

Azule Energy is an international energy company based in Angola. It produces more than 220,000 barrels of oil and gas and over 2 billion barrels of resources every day. The company supports the development of Angola's energy sector and its transition to cleaner sources. Azule Energy's portfolio includes more than 20 oil and gas licenses, 8 of which are operated.

He is also operator of the New Gas Consortium, shareholder in Angola LNG and shareholder in the 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. plant.

Azule Energy prioritizes sustainability, innovation and growth, believing that investments in oil and gas, as well as decarbonization and renewable energy technologies, can make Angola's energy system more resilient and reliable.