Latest news with #AdrianoMongini
Daily News Egypt
15 hours ago
- Business
- Daily News Egypt
Massive Gas Discovery Off Angola Boosts Nation's Energy Prospects
Angola's energy ambitions received a major boost following the announcement of a significant offshore natural gas discovery by Azule Energy, the operator of the country's first dedicated gas exploration well. The discovery, located in the Lower Congo Basin, is estimated to contain over one trillion cubic feet of gas and around 100 million barrels of condensates, in what Azule Energy described as a 'milestone moment' in Angola's energy exploration journey. Adriano Mongini, CEO of Azule Energy, said the find underscores Angola's vast natural potential and will strengthen investor confidence. 'This is a critical step in leveraging our national resources to enhance energy security,' he said in a joint statement. Azule Energy—a joint venture between BP and Italy's Eni—operates the well with a 35% stake. Other stakeholders include Norway's Equinor (30%), Angola's Sonangol E&P (25%), and private company Acrep SA (10%). Analysts suggest the discovery could reshape regional energy investment, especially as the global energy transition accelerates toward cleaner and more sustainable fuels like natural gas. The find also positions Angola more prominently on the African energy map, potentially bolstering its economic standing amid growing international demand for alternative energy sources.
Business Insider
2 days ago
- Business
- Business Insider
Angola strikes major offshore gas discovery in landmark exploration success
Azule Energy has confirmed a significant offshore gas discovery off Angola's coast, following the successful drilling of the Gajajeira-01 well, the country's first exploration well dedicated solely to gas. The well, located in the Lower Congo Basin, reveals over one trillion cubic feet of gas reserves. This marks Angola's first dedicated natural gas exploration success, bolstering confidence in the basin's potential. The discovery aligns with Angola's Gas Master Plan, aiming to expand gas production and contribute to the national energy mix. The discovery, announced on Friday, July 12, by Angola's National Oil and Gas Agency (ANGP), was made in Block 1/14, located in the Lower Congo Basin as per Reuters According to ANGP, the well encountered gas and condensate-bearing rock. Preliminary estimates suggest that the field may hold more than one trillion cubic feet of gas and up to 100 million barrels of associated condensate. Major project partners Azule Energy, a partnership between BP and Eni, operates the block with a 35% stake. Other partners in the consortium include Equinor, which holds 30%; Angola's state-owned Sonangol E&P, with 25%; and privately held Angolan company Acrep S.A., which holds the remaining 10%. In a joint statement, Azule Energy CEO Adriano Mongini said, ' This is a landmark moment for gas exploration in Angola. The Gajajeira-01 well is the first dedicated gas exploration in the country, and its success reinforces our confidence in the potential of the Lower Congo Basin. ' Angola charts path to gas development The successful drilling of the Gajajeira-01 well marks a significant milestone in Angola's exploration efforts and, according to Azule, strengthens confidence in the broader gas potential of the region. With Angola recently identified by the Africa Finance Corporation (AFC) as a rising hub in Africa's energy transition, the discovery adds further momentum to the country's growing strategic importance in the sector. This discovery builds on a decade-long effort that began with the launch of the Angola LNG plant in Soyo in 2013, aimed at reducing flaring and monetizing associated gas from offshore oil fields. Recent developments such as the Sanha Lean Gas Connection and the Quiluma–Maboqueiro project are key milestones in Angola's Gas Master Plan, which targets a 25% share of natural gas in the national energy mix by 2025. The plan also aims to attract billions in investment, expand domestic power and industrial capacity, and strengthen Angola's role as a regional gas exporter. The Gajajeira-01 breakthrough signals both progress and momentum in achieving those goals.
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Angola Discovers Major Offshore Gas Reserves in Historic Drilling Milestone
Taarek Refaat Angola has made a significant breakthrough in its energy sector with the discovery of substantial natural gas reserves off its coast, marking a historic moment in the country's exploration efforts. The National Oil, Gas and Biofuels Agency (ANPG) announced late Friday that Azule Energy—a joint venture between BP and Eni in Angola—successfully drilled the country's first dedicated gas exploration well, named Gajajeira-01, in the Lower Congo Basin. Preliminary estimates suggest the well contains more than 1 trillion cubic feet of gas and up to 100 million barrels of condensates, positioning Angola for a potential leap in natural gas production. 'This is a historic moment for gas exploration in Angola,' said Adriano Mongini, CEO of Azule Energy, in a joint statement. 'The success of the Gajajeira-01 well strengthens our confidence in the untapped potential of the Lower Congo Basin.' A New Frontier for Angola's Gas Ambitions The discovery was made in Block 1/14, operated by Azule Energy, which holds a 35% stake. Its consortium partners include Equinor (30%), Sonangol E&P (25%), Acrep, a private Angolan firm (10%) This is the first exploration well in Angola drilled specifically for natural gas, as the country historically focused on oil production. The discovery is expected to diversify Angola's hydrocarbon output and could enhance its long-term energy security and export potential. The gas find comes at a time when Angola is seeking to revamp its energy strategy following its 2023 withdrawal from OPEC. While the government has pledged to maintain oil production levels, it is increasingly looking toward natural gas as a complementary resource to fuel economic growth, power generation, and potentially liquefied natural gas (LNG) exports. Analysts suggest that Angola could become a regional gas hub in the coming decade, particularly if further discoveries follow in the Lower Congo and Kwanza basins. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Zawya
12-06-2025
- Business
- Zawya
Azule Energy Chief Executive Officer (CEO) to Discuss Angolan Projects, Future Investments at Angola Oil & Gas (AOG) 2025
Adriano Mongini, CEO of international energy company Azule Energy, will speak at this year's Angola Oil&Gas (AOG) conference. Taking place on September 3-4 in Luanda, the event is the premier event for the country's oil and gas industry, convening leaders, operators and financiers under one roof. At the helm of various impactful projects in Angola, Azule Energy is well-positioned to lead dialogue on Angola's oil and gas industry – which continues to serve as a catalyst for development as the country celebrates 50 years of independence in 2025. As the country's largest independent equity producer of oil and gas, Azule Energy has set a bold target to reach 250,000 barrels per day (bpd). To achieve this, the company is advancing offshore oil projects while spearheading the country's first non-associated gas development. Through innovative FPSO technologies, expanded production facilities and partnerships with international operators, the company is setting a strong benchmark for sustainable oil and gas production. At AOG 2025, Mongini is expected to outline ongoing projects. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ Azule Energy is preparing to start operations at two major oil and gas projects. The first project, featuring the development of the Agogo FPSO, aims to increase production capacity at the Agogo Integrated West Hub Development. Situated in Block 15/06, the project comprises the operational Ngoma FPSO, with the addition of the Agogo vessel expected to increase capacity by 120,000 bpd. The project is developed in partnership with Angola's national oil company Sonangol E&P and Chinese firm Sinopec. As of May 2025, the Agogo FPSO arrived in Angolan waters, planning a H2, 2025 start. In addition to the Agogo project, Azule Energy – as operator of the New Gas Consortium (NGC) – is developing the country's first non-associated gas project. The project will harness gas resources from the Quiluma&Maboqueiro (Q&M) shallow water fields and features the construction of an onshore facility and a connection to the Angola LNG plant in Soyo. In February 2025, Azule Energy – alongside its NGC partners Cabinda Gulf Oil Company, Sonangol P&P and TotalEnergies – completed the offshore platforms for the project. Production is set to start in early-2026. With 18 licenses – 11 of which are operated – and a combined production portfolio of 210,000 bpd, Azule Energy plays an instrumental part in monetizing Angola's oil and gas resources. As the company expands its production portfolio, Azule Energy will continue to unlock value from the hydrocarbon market. Through his participation at AOG 2025, Mongini will offer insight into the company's strategy in Angola, including non-associated gas opportunities, strategies for boosting production and future prospects. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
03-06-2025
- Business
- Zawya
Azule Energy Targets 250,000 Barrels Per Day (BPD) - Chief Executive Officer (CEO) to Share Angolan Vision at African Energy Week (AEW) 2025
Adriano Mongini, CEO of international energy company Azule Energy, has joined the African Energy Week (AEW) ( Invest in African Energies 2025 conference – taking place September 29 to October 3 – as a speaker. As Angola's largest independent equity producer of oil and gas, Azule Energy is spearheading a series of large-scale projects in the country, from oil exploration to innovative FPSOs to non-associated gas and LNG. As the company advances its 2025-2028 project pipeline, Mongini's participation at AEW: Invest in African Energies 2025 will offer key insights into the state of play of Angola's oil and gas industry. Targeting increased oil production, Azule Energy is making strides towards expanding capacity at major offshore projects. Notably, the company is preparing to start operations at the Agogo FPSO in the second half of 2025, bringing an additional 120,000 barrels per day (bpd) to the market. The vessel will be situated at the Agogo Integrated West Hub Development in Block 15/06 and will complement the operational Ngoma FPSO. The Agogo vessel features a combined cycle power generation unit with advanced electrification and digital automation, a sea water-driven turbine generator, and a vapor recovery unit to eliminate flaring. As of May 2025, the vessel had arrived in Angolan water, six months ahead of schedule. At AEW: Invest in African Energies 2025, Mongini is expected to provide an update on the project, including its role in supporting Angolan production growth. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Beyond the Agogo FPSO, Azule Energy is developing the country's first non-associated gas project as operator of the New Gas Consortium – comprising Cabinda Gulf Oil Company, Sonangol P&P and TotalEnergies. The project partners completed the offshore platforms for the project in February 2025, targeting a late-2025 or early-2026 production start. The non-associated project will harness gas resources from the Quiluma&Maboqueiro (Q&M) shallow water fields. An onshore facility will process the gas, connecting to the country's sole LNG facility in Soyo. The project falls under broader efforts by the country to enhance gas monetization and LNG production. Currently, the Angola LNG facility in Soyo utilizes gas from associated projects. With the New Gas Consortium's project, the facility will be able to increase output and facilitate greater exports. With plans to increase crude production to 250,000 bpd by 2027, Azule Energy is optimizing production across its existing asset portfolio. The company currently produces 210,000 bpd, and while upcoming projects will boost output, operational assets continue to play a major part in supporting the country's energy goals. Azule Energy has four deepwater FPSOs across its operated blocks, while gas accounts for 20% of its equity hydrocarbon production. The company's portfolio comprises 18 licenses, 11 of which are operated. In 2024, the company also made its foray into the Namibian oil and gas market, finalizing a strategic farm-in deal for Block 2914A in Petroleum Exploration License (PEL) 85. Representing the company's first international acquisition, the deal enables the company to leverage its success in Angola to unlock discoveries in Namibia. For its part, the country is targeting first oil production by 2029 following major discoveries made in the Orange Basin – home of PEL 85. At AEW: Invest in African Energies 2025, Mongini is expected to outline the company's strategic investment agenda, including upcoming projects, future prospects and regional plans. 'Azule Energy's diversified oil and gas portfolio reflects the broader goals of Angola as well as the role international energy companies play in Africa. By balancing offshore oil production with non-associated gas development, the company is supporting the creation of a diversified, strengthened energy system in the country. By taking its expertise to regional markets, Azule Energy is working towards a more resilient energy sector across the wider southern African landscape,' stated Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Week (AEW).
