Latest news with #AzuleEnergy
Zawya
7 days ago
- Business
- Zawya
Azule Energy Targets 250,000 Barrels Per Day (BPD) - Chief Executive Officer (CEO) to Share Angolan Vision at African Energy Week (AEW) 2025
Adriano Mongini, CEO of international energy company Azule Energy, has joined the African Energy Week (AEW) ( Invest in African Energies 2025 conference – taking place September 29 to October 3 – as a speaker. As Angola's largest independent equity producer of oil and gas, Azule Energy is spearheading a series of large-scale projects in the country, from oil exploration to innovative FPSOs to non-associated gas and LNG. As the company advances its 2025-2028 project pipeline, Mongini's participation at AEW: Invest in African Energies 2025 will offer key insights into the state of play of Angola's oil and gas industry. 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 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).
Zawya
29-04-2025
- Business
- Zawya
FAMAR Strengthens Angolan Downstream, Returns as Silver Sponsor of Angola Oil & Gas (AOG) 2025
Bunkering and maritime services company FAMAR has joined the sixth edition of the Angola Oil&Gas (AOG) conference as a Silver Sponsor, reinforcing its commitment to Angola's growing downstream sector. As the company expands its port infrastructure to support offshore oil and gas operations, FAMAR's presence at AOG 2025 will facilitate new opportunities for industry collaboration and investment. With extensive operations across Angola's ports, FAMAR plays a key role in the distribution and trade of petroleum products and services. The company is actively modernizing port infrastructure with integrated solutions in fuel storage, management and ship repair. At AOG 2024, FAMAR signed a Memorandum of Understanding with construction firm Angobetumes to jointly manage two fuel storage tanks at the Port of Luanda and three tanks at the Lobito Terminal. All five tanks have been certified by national authorities for the storage and marketing of petroleum, strengthening Angola's fuel storage capacity in strategic locations. Beyond fuel storage, FAMAR offers a wide range of maritime services including passenger and cargo transport, training and vessel chartering. The company supplies marine fuels – such as Marine Diesel MGO and Fuel Oil IFO 180 cts – for all ship types and facilitates both import and export of refined petroleum products. FAMAR also manages full-cycle maintenance and repair for a variety of floating marine assets, playing a vital role in supporting Angola's offshore oil and gas projects. Notable partnerships include work with Azule Energy on Block 18, as well as contributions to the Platina Oil Field and Greater Plutonio developments. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Yahoo
25-04-2025
- Business
- Yahoo
Eni makes new oil discovery in Namibia's Orange basin
Eni has confirmed an oil discovery at the Capricornus 1-X well in the Orange basin offshore Namibia. The drilling took place in Petroleum Exploration Licence 85 (PEL85), operated by Rhino Resources with a 42.5% working interest. Azule Energy, a joint venture between Eni and bp, also holds a 42.5% stake, alongside Namcor (10%) and Korres Investments (5%). Drilled using the Noble Venturer drillship, the well was spud on 17 February and reached its total depth on 2 April, successfully reaching the Lower Cretaceous target. The Capricornus 1-X well encountered 38m of net pay, revealing a reservoir with good petrophysical properties and no water contact. Hydrocarbon samples and sidewall cores were obtained through comprehensive wireline logging operations. A production test conducted on the well demonstrated a surface-constrained flow rate exceeding 11,000 stock tank barrels per day on a 40/64in choke. The light oil, with a 37° API gravity, showed minimal associated gas, less than 2% CO₂ and no hydrogen sulphide. Further laboratory analysis will be performed on the fluid samples to better understand the reservoir's characteristics. Following the successful test, plans are in place to temporarily plug and abandon the well, with the Noble Venturer set to be released. In a related development, Eni has signed a memorandum of understanding with YPF to explore potential involvement in Argentina's LNG project. The initiative seeks to exploit the Vaca Muerta onshore gas field to export as much as 30 million tonnes per annum (mtpa) of LNG by the end of the decade. Moreover, Eni's Coral Norte floating LNG development plan in Mozambique has received government approval, setting the stage for a final investment decision. The project is expected to produce 3.55mtpa of LNG over a 30-year period from the Rovuma Basin offshore Mozambique. "Eni makes new oil discovery in Namibia's Orange basin" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Reuters
24-04-2025
- Business
- Reuters
African energy explorer Rhino Resources finds light oil off Namibia
Companies CAPE TOWN, April 24 (Reuters) - African energy explorer Rhino Resources has discovered light oil in its second exploration well, Capricornus 1-X, that was drilled in the Orange Basin off Namibia's coast, the company said on Thursday. The Cape Town-headquartered company is the operator of Petroleum Exploration License 85 in partnership with Azule Energy, a BP (BP.L), opens new tab and Eni ( opens new tab joint venture, as well as national oil company Namcor and Korres Investments. The well found 38 metres of net pay with the reservoir showing good petrophysical properties and no observed water contact, the company said in a statement. The well, which successfully completed a production test across the light oil-bearing reservoir, will be temporarily plugged and abandoned, the company said of the latest exploration success in one of the world's hottest exploration frontiers. In February, Rhino Resources said its Sagittarius 1-X well drilled off Namibia's Orange Basin had intersected a hydrocarbon reservoir.
Zawya
22-04-2025
- Business
- Zawya
Azule Energy Joins Angola Oil & Gas (AOG) 2025 as Gold Sponsor Ahead of Major Project Launches
International energy company Azule Energy has confirmed its participation as a Gold Sponsor at the upcoming Angola Oil&Gas (AOG) 2025 conference, taking place in Luanda on September 3-4. As Angola's largest independent equity producer of oil and gas, Azule Energy's return to the event underscores its continued commitment to working closely with operators, service providers and government partners to drive forward the country's energy agenda. Azule Energy is advancing a series of large-scale oil and gas projects across the country, including Angola's first non-associated gas project. Led by the New Gas Consortium (NGC) with Azule Energy as operator, the project will tap gas resources from the Quiluma and Maboqueiro (Q&M) shallow water fields. In February 2025, the NGC completed the offshore platforms for the project, with the Quiluma platform departing shortly thereafter for the installation site. The full development includes two offshore platforms and an onshore gas processing plant and will supply feedstock to Angola LNG, the country's sole LNG facility. Production is expected to start in late 2025 or early 2026, with the platforms delivered six months ahead of schedule. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ Another major development underway is the Agogo Integrated West Hub Development in Block 15/06. In February 2025, Azule Energy and its project partners announced the sail-away of the Agogo FPSO from the shipyard in China to Angola. The FPSO is expected to begin operations by late 2025, joining the existing Ngoma FPSO and producing hydrocarbons from the Agogo and Ndungu fields. The new unit will boost production by 120,000 barrels per day (bpd) and features cutting-edge carbon capture and storage technology. Notably, it incorporates the world's first post-combustion CO₂ capture plants installed on an FPSO, marking a significant step forward in reducing emissions from offshore production. Azule Energy's broader portfolio includes 18 licenses – 11 of which the company operates – spanning both Angola and Namibia. In December 2024, the company finalized a strategic farm-in to Block 2914A in Namibia's PEL 85, marking its first international expansion. In 2024, Azule's net production reached 210,000 bpd, with oil and condensates making up 80% of output. The company is targeting 250,000 bpd by 2027 as it advances its upstream operations. In addition to oil and gas, Azule Energy is leading efforts to deliver low-carbon energy solutions in Angola. In partnership with Sonangol, the company is developing the Caraculo Solar Project in Namibe Province, with a total capacity of 50 MW. Phase one came online in 2023, delivering 25 MW of clean power to the grid. Azule Energy is also deeply committed to local content and social development. In 2024, the company inaugurated a new school in Huambo, offering educational access to 720 students. Alongside its Block 15/06 partners, it also handed over two education facilities to the Government of Cabinda in 2024, funded by project revenues and reinforcing the social impact of Angola's energy industry Distributed by APO Group on behalf of Energy Capital&Power.
