Driving exploration in the Lower Congo Basin, Azule Energy signed Risk Service Contracts (RSCs) with Angola’s National Agency for Oil, Gas and Biofuels last Wednesday for offshore Blocks 46, 47 and 18/15.
Azule Energy – the joint venture between Eni and bp’s Angolan assets – operates all three blocks in partnership with Equinor and Sonangol in Blocks 46 and 47 and Sonangol in Block 18/15. Together, the three licensing areas span approximately 8,700 km2.
Speaking to the prospectivity of the oilfield assets, Adriano Mongini, CEO of Azule Energy, stated: “Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that can be a game changer for our company and the country’s energy industry. Exploration in Block 18/15 can potentially open a new play and take advantage of the synergies with the production facilities already existing in Block 18.”
The RSCs are one of several recent developments pointing to accelerated deep and ultra-deepwater exploration in Angola, which has long been a deepwater market attracting the interest of International Oil Companies (IOCs). The Lower Congo Basin – which holds some of Angola’s largest oil and gas condensate fields by reserves – is home to Azule Energy’s Agogo Oil Field Development and Greater Plutonio Development and TotalEnergies’ CLOV Field Development Area, along with existing production infrastructure.
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