The oil companies BP and ENI created new oil and gas company dubbed Azule Energy as a result of the agreement signed last Friday, in Luanda, with the aim to gather both companies’ businesses.
The signing of the agreement was made by the BP executive vice-president Gordon Biren and the ENI Upstream director Guído Brusco.
Azule Energy will be an international energy company to be managed independently with a production estimated in 200,000 barrels daily of oil and gas of net production.
However, it is expected the Azule Energy to be the greatest producer of oil and gas in Angola with assets in 16 concessions as well as in LNG Angola.
It will have a strong set of new projects to start in the next years including the production of Agogo and PAJ oil in the blocks 6, 15 and 31.
The new oil company for the first time will produce in Angola non-associated gas that will contribute for the satisfaction of the Angolan market needs.
The BP executive vice-president,Gordon Biren, said that Angola has been an important region for the operations of the company and this new bet allows the continuation of the commitment of the country.
The ENI´s Upstream Director, Guído Brusco, pointed out that the creation of Azule Energy represents an important step in the strategy to accelerate growth, through an agile and financially independent company.
The creation of Azule Energy is a result of an agreement memorandum signed by both companies in May 2021.
Currently the ENI is the operator of the blocks 6, 15, North Cabinda, Center 1/14, 28 and for soon the NCG (New Gas Consortium). The company has also participation in blocks 0 (Cabinda) and Angola LNG.
The BP firm is the operator of blocks 18 and 31 and has participation in blocks 15, 17, 20 and 29. The company has also participation in NCG and Angola LNG.