{"id":12529,"date":"2022-08-02T09:50:14","date_gmt":"2022-08-02T09:50:14","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12529"},"modified":"2022-08-02T09:50:14","modified_gmt":"2022-08-02T09:50:14","slug":"angola-azule-energy-the-largest-independent-oil-gas-producer-commences-operations","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-azule-energy-the-largest-independent-oil-gas-producer-commences-operations\/","title":{"rendered":"ANGOLA: Azule Energy, the Largest Independent Oil & Gas Producer, Commences Operations"},"content":{"rendered":"\n

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<\/p>\n\n\n\n

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 barrels equivalent a day (boe\/d) of equity oil and gas production over the next 5 years. It holds stakes in 16 licences (of which 6 are exploration blocks) and a participation in Angola LNG JV. Azule Energy will also take over Eni\u2019s share in Solenova, a solar company jointly held with Sonangol, and the collaboration in the Luanda Refinery.<\/p>\n\n\n\n

Azule Energy boasts a strong pipeline of new projects that are scheduled to come on stream over the next few years, growing organically from exploration discoveries. These include the Agogo Full Field and PAJ oil projects in Blocks 15\/06 and 31 respectively, and the New Gas Consortium (NGC), the first non-associated gas project in the country, which will support the energy needs of Angola\u2019s growing economy and strengthen its role as a global LNG exporter. The JV also holds significant exploration acreage in excess of 30,000 square kilometres in Angola\u2019s most prolific basins, allowing it to leverage proximity with existing infrastructure.<\/p>\n\n\n\n

Azule Energy\u2019s leadership team draws on experience and expertise from both parent companies. The leadership team will report to a six-person board comprising three bp and three Eni representatives, reflecting the ownership share of the company. All bp Angola and Eni Angola staff have joined Azule Energy.\u00a0<\/p>\n\n\n\n

Eni and bp share common goals for Azule Energy in achieving environmental and sustainability ambitions. They believe that combining their efforts will create more efficient operations and offer the potential for increased investment, job creation and growth in Angola. They anticipate Azule Energy\u2019s new independent, integrated operating model will unlock significant cost savings, mainly from operational synergies in logistics and technology.<\/p>\n\n\n\n

\u201cA new, strong entity is born, which combines our experience, skills and technologies with those of our partner bp, putting them at the service of the development of Angolan energy resources, with a priority commitment to environmental protection and the growth of local economy.\u201d<\/strong>\u00a0 Claudio Descalzi, CEO of Eni<\/strong><\/h5>\n\n\n\n

The JV incorporation takes place after the pending conditions were met, among them having secured a third-party financing of $2.5 billion in the form of Pre-Export Financing, and after receiving regulatory approvals. <\/p>\n\n\n\n

Bernard Looney, bp\u2019s chief executive, said: \u201cThe formation of Azule Energy is an important step for bp, Eni and Angola. Combining our Angolan businesses and drawing on both bp\u2019s and Eni\u2019s expertise, it will continue to safely and efficiently develop Angola\u2019s resilient hydrocarbon resources and pursue new opportunities in oil and gas and other energies. Azule Energy continues our commitment to Angola and will create real value for both the companies and the country.\u201d\u00a0<\/p>\n\n\n\n

Claudio Descalzi, CEO of Eni, said: “This is an important milestone for Eni, marking a step forward in Eni\u2019s strategy of enhancing all our best assets. A new, strong entity is born, which combines our experience, skills and technologies with those of our partner bp, putting them at the service of the development of Angolan energy resources, with a priority commitment to environmental protection and the growth of local economy.”<\/p>\n\n\n\n

Adriano Mongini, CEO of Azule Energy, said: \u201cI feel honoured to be the first CEO of the company. Together with a highly competent and motivated leadership team we are committed to develop the full potential of the company portfolio of development and exploration opportunities. With finance discipline and focus on HSE, Azule Energy will maximize the value of the assets for the benefit of Angola and the of the shareholders.\u201d<\/p>\n\n\n\n

Health, safety and environmental performance, project delivery and production efficiency will be priority areas for the new venture. Azule Energy will maintain access to world-class technologies and best practices through focused technical support from Eni and bp. It will also continue bp\u2019s and Eni\u2019s social investment commitments in Angola.<\/p>\n\n\n\n

After announcing the intent to form the joint venture in May 2021, bp and Eni worked closely with the Angolan government, and Azule Energy\u2019s formation was subject to all customary governmental and other approvals.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12530,"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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[160,10317,9204,10421,346,768],"class_list":["post-12529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-angola","tag-azule-energy","tag-block-15-06","tag-block-31","tag-bp","tag-eni","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Azule-Energy.png?fit=750%2C421&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3g5","jetpack-related-posts":[{"id":12023,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-eni-bp-finalise-agreement-to-create-new-independent-joint-venture\/","url_meta":{"origin":12529,"position":0},"title":"ANGOLA: Eni & BP Finalise Agreement to Create New Independent Joint Venture","author":"","date":"March 14, 2022","format":false,"excerpt":"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 two companies\u2019 Angolan businesses. The agreement follows the memorandum of understanding between the companies agreed in May 2021. 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The agreement, which results from the 2021\/2022 Limited Offshore Licensing Round, is a significant stride towardsadvancing exploration in the Lower Congo Basin. 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The APA outlines both parties\u2019 interests\u2026","rel":"","context":"In "Countries"","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\/12\/Angola-Block-15-06.jpg?fit=750%2C362&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-15-06.jpg?fit=750%2C362&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-15-06.jpg?fit=750%2C362&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-15-06.jpg?fit=750%2C362&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14353,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-aker-solutions-secures-long-term-brownfield-modification-frame-agreement-with-azule-energy\/","url_meta":{"origin":12529,"position":3},"title":"ANGOLA: Aker Solutions Secures Long-term Brownfield & Modification Frame Agreement with Azule Energy","author":"","date":"June 7, 2024","format":false,"excerpt":"Aker Solutions has secured a sizeable long term frame agreement with Azule Energy to provide engineering, procurement, and construction services (EPC) for brownfield projects and modifications for two FPSOs in Angola. This is a continuation of the current frame agreement Aker Solutions has with the operator Azule Energy. The operator\u2026","rel":"","context":"In "Countries"","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\/2024\/06\/FPSO-PSVM.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/FPSO-PSVM.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/FPSO-PSVM.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/FPSO-PSVM.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/FPSO-PSVM.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":14099,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-azule-energy-signs-risk-service-contracts-for-blocks-18-15-46-and-47\/","url_meta":{"origin":12529,"position":4},"title":"ANGOLA: Azule Energy Signs Risk Service Contracts for Blocks 18\/15, 46 AND 47","author":"","date":"December 20, 2023","format":false,"excerpt":"The National Agency for Oil, Gas and Biofuels and Azule Energy signed the Risk Service Contracts (RSCs) for offshore Blocks 46 and 47 in partnership with Equinor and Sonangol Pesquisa e Produ\u00e7\u00e3o, S.A., and for Block 18\/15 in partnership with Sonangol P&P. 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The ceremony was attended by the President of the Republic of Angola, Jo\u00e3o Gon\u00e7alves Louren\u00e7o, alongside\u2026","rel":"","context":"In "Countries"","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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12529","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=12529"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12529\/revisions"}],"predecessor-version":[{"id":12531,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12529\/revisions\/12531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/12530"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}