{"id":12023,"date":"2022-03-14T09:08:57","date_gmt":"2022-03-14T09:08:57","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12023"},"modified":"2022-03-14T09:11:03","modified_gmt":"2022-03-14T09:11:03","slug":"angola-eni-bp-finalise-agreement-to-create-new-independent-joint-venture","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-bp-finalise-agreement-to-create-new-independent-joint-venture\/","title":{"rendered":"ANGOLA: Eni &#038; BP Finalise Agreement to Create New Independent Joint Venture"},"content":{"rendered":"<p>BP and <span class=\"nr-glossary-key\" data-key=\"Eni\">Eni<\/span> confirmed today that they have signed an agreement to form a new 50\/50 independent company, Azule Energy, a BP and Eni company, through the combination of the two companies\u2019 Angolan businesses. The agreement follows the memorandum of understanding between the companies agreed in May 2021.<\/p>\n<p>Azule Energy will be a new international energy\u00a0company, independently managed, with more than 200,000 barrels equivalent a day\u00a0(boe\/d) of net\u00a0<span class=\"nr-glossary-key\" data-key=\"oil\">oil<\/span>\u00a0and\u00a0<span class=\"nr-glossary-key\" data-key=\"gas\">gas<\/span>\u00a0production and two billion barrels equivalent of net\u00a0resources. It is expected to be Angola\u2019s largest producer, holding stakes in 16\u00a0licences, as well as participating in the Angola\u00a0<span class=\"nr-glossary-key\" data-key=\"LNG\">LNG<\/span>\u00a0joint venture. Azule\u00a0Energy will also take over Eni\u2019s stake in Solenova, a solar company jointly\u00a0held with Sonangol.<\/p>\n<p>Azule Energy will have a strong pipeline of new\u00a0projects starting up over the next few years, including the new Agogo and PAJ\u00a0oil projects in Blocks 15\/06 and 31 respectively. It will also develop the New\u00a0Gas Consortium (NGC), the first non-associated gas project in the country,\u00a0which will support the energy needs of Angola\u2019s growing economy, its\u00a0decarbonization path and strengthen its role as a global LNG player.<\/p>\n<p>bp and Eni share common goals for Azule Energy in\u00a0achieving environmental and sustainability ambitions.<\/p>\n<p>bp and Eni believe combining their efforts with a\u00a0long-term perspective will create more efficient operations and offer the\u00a0potential for increased investment, job creation\u00a0and growth in Angola.\u00a0Azule Energy will continue to develop the full potential of the country\u2019s\u00a0upstream sector, while also positioning itself to capture new opportunities\u00a0from the\u00a0<span class=\"nr-glossary-key\" data-key=\"energy transition\">energy transition<\/span>\u00a0with the growing role of gas and renewables in its\u00a0portfolio.<\/p>\n<p>Bernard Looney, bp\u2019s chief executive, said: \u201cAngola has long been important for bp operations and this innovative new venture underscores and enables our continued commitment to the country. Eni is a valued partner to be working within the region. Azule Energy draws on our combined strengths and skills and, more importantly, is anchored in our shared values and beliefs about what the future of energy should be. Ultimately Azule Energy will be able to drive efficiencies and realize new opportunities across an expanded and truly exciting portfolio.\u201d<\/p>\n<p>Claudio Descalzi, CEO of Eni, said: \u201cThe creation of Azule Energy is a further step in advancing our strategic approach to accelerate growth through focused lean and financially independent companies. Combining two world-class businesses into one stronger team, Azule Energy will leverage synergies and high-quality assets, boosting activities in Angola and will have one of the largest portfolios of production, development and exploration opportunities in Sub-Saharan Africa. bp shares our values and our approach to just transition and we are very pleased to be partners in this\u00a0initiative.\u201d<\/p>\n<p>Health, safety and environmental\u00a0performance,\u00a0project delivery and production efficiency will be priority\u00a0areas for the new venture.\u00a0The joint venture will maintain access to\u00a0world-class technologies and best practices through focused areas of technical\u00a0support from Eni and bp. Azule Energy will continue bp and Eni\u2019s social\u00a0investment commitments in Angola.<\/p>\n<p>Since announcing the intent to form the joint venture\u00a0in May 2021, bp and Eni have worked closely with the Angolan government and the\u00a0creation of Azule Energy will be subject to all customary governmental and\u00a0other approvals, with the aim of completing the transaction in the second half\u00a0of 2022. Once set up, Azule Energy will be equity accounted by bp and Eni.\u00a0Hydrocarbon production and\u00a0<span class=\"nr-glossary-key\" data-key=\"GHG emissions\">GHG emissions<\/span>\u00a0will continue to be reported on an\u00a0equity share basis.<\/p>\n<p>Currently Eni is operator of Blocks 15\/06 Cabinda\u00a0North, Cabinda Centro, 1\/14, 28 and soon NGC. In addition, Eni has a stake in\u00a0the non-operated blocks 0 (Cabinda), 3\/05, 3\/05A, 14, 14 K\/A-IMI, 15 and in\u00a0Angola LNG.<\/p>\n<p>bp is operator of Blocks 18 and 31\u00a0<span class=\"nr-glossary-key\" data-key=\"offshore\">offshore<\/span>\u00a0Angola,\u00a0and has non-operated stakes in blocks 15, 17, 20 and 29. bp also has\u00a0non-operated interests in NGC and Angola LNG<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP and Eni confirmed today that they have signed an agreement to form a new 50\/50 independent company, Azule Energy, a BP and Eni company, through the combination of the &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-bp-finalise-agreement-to-create-new-independent-joint-venture\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,4748,7445],"tags":[160,10317,268,10320,8689,10318,346,9208,768,10319,9860,2362],"class_list":["post-12023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-solar","category-southern-africa","tag-angola","tag-azule-energy","tag-block-17","tag-block-20","tag-block-29","tag-blocks-15-06-cabinda-north","tag-bp","tag-cabinda-centro","tag-eni","tag-ngc","tag-solenova","tag-sonangol","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=2322%2C952&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-37V","jetpack-related-posts":[{"id":12529,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-azule-energy-the-largest-independent-oil-gas-producer-commences-operations\/","url_meta":{"origin":12023,"position":0},"title":"ANGOLA: Azule Energy, the Largest Independent Oil &#038; Gas Producer, Commences Operations","author":"","date":"August 2, 2022","format":false,"excerpt":"bp and Eni have confirmed that Azule Energy, the new 50\/50 independent joint venture combining the two companies\u2019 Angolan businesses, has been officially established.\u00a0 Azule Energy is now Angola\u2019s largest independent equity producer of oil and gas, holding 2 billion barrels equivalent of net resources and growing to about 250,000\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Azule-Energy.png?fit=750%2C421&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Azule-Energy.png?fit=750%2C421&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Azule-Energy.png?fit=750%2C421&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Azule-Energy.png?fit=750%2C421&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12512,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-announces-the-completion-of-negotiations-to-start-up-new-gas-consortium\/","url_meta":{"origin":12023,"position":1},"title":"ANGOLA: Eni announces the completion of negotiations to start up New Gas Consortium","author":"","date":"July 28, 2022","format":false,"excerpt":"Eni and its Partners in the New Gas Consortium (NGC), Chevron\u2019s affiliate in Angola Cabinda Gulf Oil Company Limited (CABGOC), Sonangol P&P, bp and TotalEnergies, together with Angola\u2019s National Agency for Oil, Gas and Biofuels ANPG, are pleased to announce that the Final Investment Decision (FID) for the development of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=1200%2C492&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=1200%2C492&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=1200%2C492&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=1200%2C492&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Angola-terrestrial-bassins.jpg?fit=1200%2C492&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15349,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-inaugurates-gas-treatment-plant-in-soyo\/","url_meta":{"origin":12023,"position":2},"title":"ANGOLA: Eni Inaugurates Gas Treatment Plant in Soyo","author":"","date":"November 28, 2025","format":false,"excerpt":"Eni, through its satellite company Azule Energy - a 50:50 joint venture with bp and the operator of the New Gas Consortium (NGC) \u2013 inaugurated the NGC Gas Treatment Plant in Soyo, northern Angola. The ceremony was attended by the President of the Republic of Angola, Jo\u00e3o Gon\u00e7alves Louren\u00e7o, alongside\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/11\/Angola-Soyo.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/11\/Angola-Soyo.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/11\/Angola-Soyo.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/11\/Angola-Soyo.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/11\/Angola-Soyo.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12428,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-inaugurates-an-extension-unit-on-the-luanda-refinery\/","url_meta":{"origin":12023,"position":3},"title":"ANGOLA: Eni Inaugurates an Extension Unit on the Luanda Refinery","author":"","date":"July 12, 2022","format":false,"excerpt":"Thenew platforming unit of the Refinery of Luanda was inaugurated today, under the presence of the President of the Republic Dr. Jo\u00e3o Manuel Gon\u00e7alves Louren\u00e7o and of Eni Natural Resources Chief Operating Officer Guido Brusco, in representation of Eni CEO Claudio Descalzi, among representatives of the central Government and of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Refinery-793x525-1.png?fit=793%2C525&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Refinery-793x525-1.png?fit=793%2C525&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Refinery-793x525-1.png?fit=793%2C525&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Refinery-793x525-1.png?fit=793%2C525&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12274,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-solenova-an-eni-sonangol-jv-lays-the-first-stone-first-photovoltaic-project\/","url_meta":{"origin":12023,"position":4},"title":"ANGOLA: Solenova, an Eni-Sonangol JV, lays the first stone first photovoltaic project","author":"","date":"May 23, 2022","format":false,"excerpt":"Solenova, a joint venture equally owned by Eni and Sonangol for the development of renewable energy projects, has lain the first stone of what will be Angola\u2019s first photovoltaic power plant in Caraculo, in the province of Namibe. The ceremony was attended by the Minister of Mineral Resources, Petroleum and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13925,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-anpg-awards-azule-energy-equinor-exploration-rights-for-block-31-21\/","url_meta":{"origin":12023,"position":5},"title":"ANGOLA: ANPG Awards Azule Energy &#038; Equinor  Exploration Rights for Block 31\/21","author":"","date":"September 4, 2023","format":false,"excerpt":"The National Agency of Petroleum, Gas and Biofuels (ANPG) and Azule Energy, in partnership with Equinor, today signed a Production Sharing Agreement (PSA) for Block 31\/21. The agreement, which results from the 2021\/2022 Limited Offshore Licensing Round, is a significant stride towardsadvancing exploration in the Lower Congo Basin. The block,\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12023"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12023\/revisions"}],"predecessor-version":[{"id":12024,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12023\/revisions\/12024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8258"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}