Azule Energy

Azule Energy is an Angolan integrated energy company created in August 2022 that combines the assets and workforce of BP and Eni in Angola. The company produces 210,000 boepd, making it one of the two largest operators in Angola. It has stakes in 18 blocks in Angola.

Azule has several flagship projects:

• The Agogo Integrated West Hub project: Representing the largest FID worldwide in 2023, at USD 8.2 billion, this project aims to develop the Agogo and Ndungu fields in Block 15/06. Expected production by the project’s completion is 170,000 bopd, with first oil targeted for mid-2026.
• The New Gas Consortium: Angola’s first non-associated gas project, the consortium represents a major development in the country’s diversification strategy. The planned daily gas production of the project is 9.35 mcm, with the project expected to be fully on line in 2026.
• Namibian Orange Basin exploration: Azule entered international waters in May 2024 following a farm-in agreement with Rhino Resources. The company now holds a 42.5% interest in the basin’s Block 2914A, has the option to become the operator of PEL85 and commenced exploration in late 2024.
• Solenova: Azule’s first renewable energy project, Solenova is a photovoltaic plant developed as a 50-50 joint venture with Sonangol. The first 25-MW phase has been operational since 2023, and the project will be fully operational following a second 25-MW phase.
• Angola LNG: Azule is also one of four shareholders in Angola LNG, its joint venture with Sonagas, TotalEnergies and operator Chevron.

With this portfolio of projects, Azule seeks to efficiently produce oil and gas and expand Angola’s renewables sector.

Company website: https://www.azule-energy.com/