Latest news with #gasdiscovery
Yahoo
5 days ago
- 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.
Reuters
10-07-2025
- Business
- Reuters
Norway's Equinor makes gas find in Barents Sea
COPENHAGEN, July 10 (Reuters) - Norway's Equinor ( opens new tab has discovered gas in the Skred prospect near the Johan Castberg field in the Barents Sea, the Norwegian Offshore Directorate said on Thursday. Preliminary estimates indicate a discovery of between 0.3 billion and 0.5 billion standard cubic metres of recoverable gas equivalent, corresponding to between 1.9 million and 3.1 million barrels of oil equivalent, the directorate said. The licensees will evaluate the discovery with regard to a possible tie-in to the Johan Castberg field, it added. Equinor is the operator and owns 46.3% of the permit. Vaar Energi holds 30% and Norwegian state-owned oil firm Petoro owns the remaining 23.7%.
Zawya
03-06-2025
- Business
- Zawya
Zimbabwe's Gas Future Gains Momentum as Invictus Energy Joins African Energy Week (AEW) 2025
Scott Macmillan, Founder and Managing Director of Invictus Energy, will speak at African Energy Week (AEW): Invest in African Energies – taking place September 29 to October 3 in Cape Town -, bringing critical insight into Zimbabwe's burgeoning upstream sector. His participation comes at a pivotal time, as Invictus spearheads Zimbabwe's first confirmed commercial gas discovery at the Cabora Bassa Basin, marking a major milestone in the country's pursuit of energy self-sufficiency and regional trade integration. The Mukuyu gas field, located in the Cabora Bassa project area, represents Zimbabwe's entrance into the league of African gas producers. Following successful exploration results and the award of Environmental and Social Impact Assessment approvals, Invictus is now advancing the project towards commercialization. The company recently secured the green light to begin pilot production activities, including supplying gas to the Eureka Gold Mine gas-to-power project – a step that not only monetizes gas resources but also supports domestic power generation. Building on this momentum, Invictus has selected the Musuma-1 well for its next high-impact drilling campaign. Situated outside the Mukuyu discovery area, the well targets an estimated 1.2 trillion cubic feet of gas and 73 million barrels of condensate, unlocking further potential within the greater Cabora Bassa Basin. This next phase aims to de-risk additional stacked targets and expand Zimbabwe's upstream footprint in a region with significant geological potential. 'Invictus Energy's progress in unlocking Zimbabwe's natural gas potential exemplifies the critical role upstream exploration and development play in Africa's energy transition. The Cabora Bassa project is a flagship example of how new resources can power economic growth while supporting cleaner energy solutions,' said NJ Ayuk, Executive Chairman of the African Energy Chamber. Invictus' progress aligns with the broader goals of AEW: Invest in African Energies 2025 – the continent's premier platform for energy investment and project development. As Zimbabwe works to diversify its energy mix and leverage its natural resources for industrial growth, the participation of companies like Invictus sends a clear message to global investors: Zimbabwe is open for energy business. With a focus on exploration, development and monetization of African gas, Invictus Energy's involvement at AEW: Invest in African Energies 2025 will showcase the company's strategic vision, technical capability and role in unlocking new frontiers for investment. Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week (AEW): 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.
