Azule Energy Targets 250,000 Barrels Per Day (BPD) - Chief Executive Officer (CEO) to Share Angolan Vision at African Energy Week (AEW) 2025
Targeting increased oil production, Azule Energy is making strides towards expanding capacity at major offshore projects. Notably, the company is preparing to start operations at the Agogo FPSO in the second half of 2025, bringing an additional 120,000 barrels per day (bpd) to the market. The vessel will be situated at the Agogo Integrated West Hub Development in Block 15/06 and will complement the operational Ngoma FPSO. The Agogo vessel features a combined cycle power generation unit with advanced electrification and digital automation, a sea water-driven turbine generator, and a vapor recovery unit to eliminate flaring. As of May 2025, the vessel had arrived in Angolan water, six months ahead of schedule. At AEW: Invest in African Energies 2025, Mongini is expected to provide an update on the project, including its role in supporting Angolan production growth.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit https://apo-opa.co/3Z9AwEY for more information about this exciting event.
Beyond the Agogo FPSO, Azule Energy is developing the country's first non-associated gas project as operator of the New Gas Consortium – comprising Cabinda Gulf Oil Company, Sonangol P&P and TotalEnergies. The project partners completed the offshore platforms for the project in February 2025, targeting a late-2025 or early-2026 production start. The non-associated project will harness gas resources from the Quiluma&Maboqueiro (Q&M) shallow water fields. An onshore facility will process the gas, connecting to the country's sole LNG facility in Soyo. The project falls under broader efforts by the country to enhance gas monetization and LNG production. Currently, the Angola LNG facility in Soyo utilizes gas from associated projects. With the New Gas Consortium's project, the facility will be able to increase output and facilitate greater exports.
With plans to increase crude production to 250,000 bpd by 2027, Azule Energy is optimizing production across its existing asset portfolio. The company currently produces 210,000 bpd, and while upcoming projects will boost output, operational assets continue to play a major part in supporting the country's energy goals. Azule Energy has four deepwater FPSOs across its operated blocks, while gas accounts for 20% of its equity hydrocarbon production. The company's portfolio comprises 18 licenses, 11 of which are operated. In 2024, the company also made its foray into the Namibian oil and gas market, finalizing a strategic farm-in deal for Block 2914A in Petroleum Exploration License (PEL) 85. Representing the company's first international acquisition, the deal enables the company to leverage its success in Angola to unlock discoveries in Namibia. For its part, the country is targeting first oil production by 2029 following major discoveries made in the Orange Basin – home of PEL 85. At AEW: Invest in African Energies 2025, Mongini is expected to outline the company's strategic investment agenda, including upcoming projects, future prospects and regional plans.
'Azule Energy's diversified oil and gas portfolio reflects the broader goals of Angola as well as the role international energy companies play in Africa. By balancing offshore oil production with non-associated gas development, the company is supporting the creation of a diversified, strengthened energy system in the country. By taking its expertise to regional markets, Azule Energy is working towards a more resilient energy sector across the wider southern African landscape,' stated Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Week (AEW).
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