Massive Gas Discovery Off Angola Boosts Nation's Energy Prospects
The discovery, located in the Lower Congo Basin, is estimated to contain over one trillion cubic feet of gas and around 100 million barrels of condensates, in what Azule Energy described as a 'milestone moment' in Angola's energy exploration journey.
Adriano Mongini, CEO of Azule Energy, said the find underscores Angola's vast natural potential and will strengthen investor confidence. 'This is a critical step in leveraging our national resources to enhance energy security,' he said in a joint statement.
Azule Energy—a joint venture between BP and Italy's Eni—operates the well with a 35% stake. Other stakeholders include Norway's Equinor (30%), Angola's Sonangol E&P (25%), and private company Acrep SA (10%).
Analysts suggest the discovery could reshape regional energy investment, especially as the global energy transition accelerates toward cleaner and more sustainable fuels like natural gas.
The find also positions Angola more prominently on the African energy map, potentially bolstering its economic standing amid growing international demand for alternative energy sources.
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