General Interest

Azule Energy advances FPSO agreement for Agogo

Dec. 5, 2022

Azule Energy has entered into an agreement with Yinson Azalea Production Pte Ltd. activities related to the provision, operation, and maintenance of an FPSO for the Agogo integrated west hub development project offshore Angola, Yinson Production said in a

Alex Procyk

The agreement, made through Azule subsidiary Eni Angola SpA, outlines both parties’ interests in beginning preliminary work to meet the project schedule, while finalizing firm contracts for the project. The term is 60 days with an aggregate value of about $218 million.

Azule Energy is a 50-50 joint venture between bp PLC and Eni SPA. The company holds 2 billion boe net resources in Angola and has stakes in 16 licenses, of which 6 are exploration blocks. Agogo field is in Block 15/06, about 180 km from the coast in 1,700 m of water.

About the Author

Alex Procyk | Upstream Editor

Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).