Latest news with #AzuleEnergy
Zawya
6 days ago
- Business
- Zawya
Angola discovers offshore gas in first gas-specific exploration well
Azule Energy, a partnership between BP and Eni in Angola, discovered gas in its first gas-specific exploration well off the country's shores, the national oil and gas agency ANGP said. Found in block 1/14, the Gajajeira-01 well drilled in the lower Congo Basin, encountered gas and condensate-bearing rock, with preliminary estimates suggesting gas volumes could exceed one trillion cubic feet and up to 100 million barrels of associated condensate. "This is a landmark moment for gas exploration in Angola," Adriano Mongini, CEO of Azule Energy, said in a joint statement. "The Gajajeira-01 well is the first dedicated gas exploration well in the country, and its success reinforces our confidence in the potential of the Lower Congo Basin." The block is operated by Azule Energy (35%) in association with Equinor (30%), Sonangol E&P (25%), and privately owned Angolan company Acrep S.A. (10%). All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Yahoo
14-07-2025
- Business
- Yahoo
Azule Energy and partners announce gas discovery in Angola's Block 1/14
Azule Energy has announced a gas discovery at the Gajajeira-01 exploration well in Block 1/14, in the Lower Congo Basin, offshore Angola. The Gajajeira-01 well was drilled in a water depth of 95m and 60km off the coast, where it encountered promising hydrocarbon-bearing formations in one of the Lower Oligocene targets, designated LO100. Azule Energy is an incorporated joint venture (IJV) equally owned by BP and Eni. It owns a 35% interest in Block 1/14 while Equinor and Sonangol E&P hold 30% and 25% respectively, with the remaining 10% held by Acrep. Spud on 1 April 2025, the well revealed more than 30m of net pay, with preliminary results suggesting good reservoir mobility. Advanced formation evaluation and monitoring tools were employed to ensure drilling operations met high safety standards. Initial assessments of the well indicate significant gas volumes in place, potentially exceeding one trillion cubic feet, along with up to 100 million barrels of associated condensate. This discovery confirms the presence of a working hydrocarbon system in the Lower Congo Basin, presenting new exploration opportunities. Azule Energy CEO Adriano Mongini said: 'This is a landmark moment for gas exploration in Angola. Gajajeira-01 is the country's first dedicated gas exploration well, and its success reinforces our confidence in the potential of the Lower Congo Basin. We are proud to contribute to Angola's long-term energy development with a focus on sustainability and energy security.' Azule Energy is committed to further evaluating the Gajajeira-01 discovery's full potential. Working closely with its Block 1/14 partners, the company aims to devise an optimal development strategy. The ongoing drilling campaign will now target the Lower Oligocene interval LO300. Additionally, Azule Energy engaged Aker Solutions under a long-term frame agreement in June 2024 for engineering, procurement, and construction (EPC) services for maintenance and modifications on two FPSO units in Angola. The three-year contract has the possibility of being extended for another two years. "Azule Energy and partners announce gas discovery in Angola's Block 1/14" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Daily News Egypt
14-07-2025
- 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
13-07-2025
- 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
13-07-2025
- 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
