4 days ago
BP-Eni Venture Puts Namibia Oil Find on Fast Track to Output
Azule Energy, a BP Plc and Eni SpA joint venture, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world's newest hotspots.
Azule last year negotiated a stake in Namibia's block 2914A from operator Rhino Resources, and the partners found oil at the Capricornus well in April. A final investment decision on the project by the end of next year is challenging but possible, which would mean production can begin by 2029, Azule's Chief Executive Officer Adriano Mangini said.
