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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