Azule Energy strikes oil at Algaita-01 well in Angola’s Block 15/06

Azule Energy, a 50:50 associated task (JV) betwixt bp and Eni, has made an lipid find astatine the Algaita-01 exploratory good successful Block 15/06, located successful the Lower Congo Basin offshore Angola.

Block 15/06 is operated by Azule Energy with a 36.84% interest, alongside partners SSI Fifteen, holding 26.32%, and Sonangol E&P with 36.84%.

The Algaita-01 good is astir 18km from the Azule Energy-operated Olombendo floating production, storage, and offloading (FPSO) vessel. On a preliminary basis, the find is estimated to incorporate astir 500 cardinal barrels of oil.

Azule Energy CEO Joe Murphy said: “The Algaita-01 results physique connected a agelong palmy way grounds of 22 discoveries, erstwhile again confirming the exceptional effectiveness of the petroleum strategy successful Block 15/06.

“The beingness of aggregate adjacent producing facilities further enhances the worth of this caller exploratory success. We are arrogant to present different important effect unneurotic with our partners and to proceed creating opportunities for further growth.”

The drilling cognition for the Algaita-01 good commenced connected 10 January 2026 and was executed by the Saipem 12000 drill-ship astatine a h2o extent of 667m.

Drilling activities concluded connected 26 January, followed by enactment valuation logs aimed astatine assessing reservoir prime and fluid characteristics.

Preliminary investigation from wireline logging and fluid sampling suggests aggregate reservoir intervals with fantabulous petrophysical qualities and fluid mobility.

Oil-bearing sandstones were discovered crossed respective Upper Miocene intervals, noted for their favourable petrophysical properties.

A thorough information acquisition process including fluid sampling verified some the reservoir's prime and the characteristics of its fluids.

According to Eni, the existing accumulation infrastructure successful proximity to the find tract enhances the imaginable worth and improvement prospects of the find.

Angolan National Agency of Petroleum, Gas and Biofuels (ANPG) president and CEO Paulino Jerónimo said: “The find of the Algaita-01 well, successful Block 15/06, reaffirms the precocious imaginable of the Lower Congo Basin and the consistency of the ongoing exploration strategy, creating favourable conditions for swift monetisation, with affirmative impacts connected nationalist accumulation and State revenues.

“The ANPG encourages the continued recognition of caller opportunities nether the existing inducement mechanisms, peculiarly Decree 8/24 connected Incremental Production, arsenic good arsenic Decree 5/18, which establishes the ineligible model that allows exploration wrong and adjacent improvement areas.”