Azule Energy signs production sharing agreement for block offshore Angola

Azule Energy, a joint venture between bp PLC and Eni SPA, signed a production sharing agreement with The National Agency of Petroleum, Gas, and Biofuels (ANPG) for Block 31/21, 170 km from Angola’s coastline in Lower Congo basin.

The contract is the result of the 2021 bidding process that led to the formation of a contractor group formed by Azule Energy (operator, 50%) and Equinor (50%) for the block. The contract encompasses drilling one exploration well during the initial exploration period, which will last 5 years.

The block occupies about 4,500 sq km in the deep waters of the basin and has 12 discoveries and remaining exploration potential in an area with existing infrastructure from Block 31.