Latest news with #Eni
Yahoo
a day ago
- Business
- Yahoo
Azule Energy and partners announce gas discovery in Angola's Block 1/14
Azule Energy has announced a gas discovery at the Gajajeira-01 exploration well in Block 1/14, in the Lower Congo Basin, offshore Angola. The Gajajeira-01 well was drilled in a water depth of 95m and 60km off the coast, where it encountered promising hydrocarbon-bearing formations in one of the Lower Oligocene targets, designated LO100. Azule Energy is an incorporated joint venture (IJV) equally owned by BP and Eni. It owns a 35% interest in Block 1/14 while Equinor and Sonangol E&P hold 30% and 25% respectively, with the remaining 10% held by Acrep. Spud on 1 April 2025, the well revealed more than 30m of net pay, with preliminary results suggesting good reservoir mobility. Advanced formation evaluation and monitoring tools were employed to ensure drilling operations met high safety standards. Initial assessments of the well indicate significant gas volumes in place, potentially exceeding one trillion cubic feet, along with up to 100 million barrels of associated condensate. This discovery confirms the presence of a working hydrocarbon system in the Lower Congo Basin, presenting new exploration opportunities. Azule Energy CEO Adriano Mongini said: 'This is a landmark moment for gas exploration in Angola. Gajajeira-01 is the country's first dedicated gas exploration well, and its success reinforces our confidence in the potential of the Lower Congo Basin. We are proud to contribute to Angola's long-term energy development with a focus on sustainability and energy security.' Azule Energy is committed to further evaluating the Gajajeira-01 discovery's full potential. Working closely with its Block 1/14 partners, the company aims to devise an optimal development strategy. The ongoing drilling campaign will now target the Lower Oligocene interval LO300. Additionally, Azule Energy engaged Aker Solutions under a long-term frame agreement in June 2024 for engineering, procurement, and construction (EPC) services for maintenance and modifications on two FPSO units in Angola. The three-year contract has the possibility of being extended for another two years. "Azule Energy and partners announce gas discovery in Angola's Block 1/14" 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.
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Massive Gas Discovery Off Angola Boosts Nation's Energy Prospects
Angola's energy ambitions received a major boost following the announcement of a significant offshore natural gas discovery by Azule Energy, the operator of the country's first dedicated gas exploration well. 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.
Al Etihad
2 days ago
- Business
- Al Etihad
Khazna, Eni join forces to develop 500MW AI data centre campus near Milan
13 July 2025 18:29 ROME (ALETIHAD)In a significant leap for Europe's digital infrastructure, Khazna Data Centers, a UAE-based hyperscale digital infrastructure leader, and Eni, the Italian global energy company, have signed a Head of Terms (HoT) agreement to establish a joint venture to develop a 500-megawatt AI data centre campus in Ferrera Erbognone, Lombardy, signing ceremony took place in Rome on Friday, in the presence of Her Excellency Reem Al Hashimy, UAE Minister of State for International Cooperation, and Adolfo Urso, Italy's Minister of Enterprises and Made in Italy, alongside other senior officials. The agreement was signed by Hassan Alnaqbi, CEO of Khazna Data Centers, and Guido Brusco, Eni's Chief Operating Officer for Global Natural strategic initiative marks a major milestone in the UAE-Italy cooperation framework, which was reinforced during the state visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, to Italy in February 2025. The visit laid the groundwork for a broader partnership in artificial intelligence, energy transition, and digital upcoming campus will feature state-of-the-art, energy-efficient infrastructure built specifically to support high-density AI and high-performance computing (HPC) workloads. It will be powered by Eni's proprietary 'Blue Power'—a low-carbon energy source generated by a high-efficiency Combined Cycle Gas Turbine (CCGT) power plant equipped with carbon capture capabilities. This integration of decarbonised energy with AI data infrastructure is a first-of-its-kind in Italy, symbolising a new era in sustainable digital project is the first phase of a larger programme that aims to install up to 1 gigawatt (GW) of total IT capacity across Italy. Under the HoT, Khazna is appointed as the main partner to design and execute a phased master plan to deliver the 500MW data Alnaqbi, CEO of Khazna Data Centers, stated: 'We're proud to partner with Eni, a demonstrated energy leader, on this HoT, which represents a defining step in Khazna's European expansion. Together with Eni, we are enabling the infrastructure needed for exponential AI growth—delivering the scale, sustainability, and operational precision that next-generation compute demands.'Guido Brusco, COO Global Natural Resources of Eni, added: 'Through this partnership, Eni and Khazna are jointly contributing to delivering a world-class hyperscale infrastructure, strategic for Italy and Europe, providing their distinctive capabilities in innovation, energy sustainability and rapid time-to-market.' The agreement outlines the key principles, governance framework, and roles for a dedicated joint venture company that will oversee and fast-track the delivery of this strategic digital infrastructure.
Euronews
3 days ago
- Business
- Euronews
Why is Italian oil giant Eni growing edible crops in Congo?
Some fields are abandoned, others are being ploughed again by local families in Louvakou, in the Niari department of southwestern Congo. We fly a drone over rain-soaked lands, where until a year ago one of the agricultural projects of Eni Congo, a subsidiary of the Italian oil company Eni, was located. The project was managed by the Luxembourg-based company Agri Resources, which had a concession of 29,000 hectares of land and experimented with the cultivation of castor oil, intended to supply Eni's biofuel production in Italy. 'Agri Resources is not here anymore,' says Joseph Ngoma Koukebene, chief of the nearby Kibindouka village during our visit last November. The chief sits in his yard while telling us that the project has failed, apparently due to poor productivity. Louvakou is one of three sites in the Republic of Congo where Eni began experimenting in 2022 with the cultivation of castor oil, a non-food crop to be grown 'on degraded lands' as a 'sustainable agri-feedstock' for biofuels, it said. These are vegetable oils that are not meant to cause deforestation nor compete with food production. But while these projects are abandoned or still under evaluation, in May this year the company began producing agri-feedstock with other edible crops, such as sunflower and soy, which could have a negative impact on local food security. What is an Italian oil company doing in Congo? Eni plans to increase its global bio-refinery capacity from 1.65 million tonnes per year to 5 million tonnes of biofuels and over 2 million tonnes of Sustainable Aviation Fuels by 2030. To date, Eni mainly produces biofuels using controversial palm oil by-products imported from Indonesia and Malaysia such as PFAD and POME, and Used Cooking Oils. In order to produce alternative feedstocks and increase production, the company has launched agricultural projects in several countries since 2021, including Congo, Kenya, Mozambique and Ivory Coast. 'To address the availability of feedstock, we have several ongoing projects called agri-hubs, which are focused on producing vegetable oils grown on degraded lands,' Stefano Ballista, director of Enilive, another satellite company of Eni, tells us during a visit in June to a biorefinery in Porto Marghera, Venice. According to Ballista, the company 'aims to produce 700,000 tonnes of vegetable oils' globally by 2028. In Congo, Eni had originally planned to produce 20,000 tonnes by 2023 from castor oil, brassica and safflower, reaching 250,000 tonnes by 2030. But things went differently: the castor oil project in Louvakou closed its doors, while two others, in the departments of Bouenza and Pool, are still in an experimental phase. Meanwhile, at the end of May, Eni Congo inaugurated an agri-hub in Loudima, in the Bouenza district. According to the local press, this pressing plant will produce 30,000 tonnes of vegetable oils destined for bio-refining in 2025, and is supplied by an agricultural production of 1.1 million tonnes of agricultural products such as soy and sunflower, grown on 15,000 hectares. Degraded land and food security According to Chris Nsimba, a farmer in Loudima who attended the launch in May, 'castor production is still there, but it has been scaled back in favour of other products.' In 2021 Eni Congo signed an agreement with the Congolese government for the 'development of bio-refining agro-feedstock sector,' with a duration of 50 years, involving an area of 150,000 hectares. The company says its agricultural production in Bouenza will reach 40,000 hectares in 2025. 'We have grown sunflowers, in lands abandoned for decades, with very good yields,' Luigi Ciarrocchi, director of the Agri-Feedstock programme at Eni, told us. According to Ciarrocchi, the use of castor oil in Congo is still 'under evaluation.' Sunflower, like soy or rapeseed, is a food crop. Although Bouenza is called 'the breadbasket of Congo' due to its highly fertile grounds, Ciarrocchi claims that Eni is using 'degraded lands' that have become less fertile after being abandoned following large-scale agricultural projects in the 1970s and 1980s. 'Our products, which come from this supply chain, are certified at the European level,' Ciarrocchi claims, to ensure that 'they meet advanced sustainability criteria, and therefore avoid conflict with the food chain.' According to the United Nations, in the Republic of Congo 'domestic food production meets only 30 per cent of the country's needs, forcing heavy reliance on food imports.' Meanwhile 'chronic malnutrition is a pressing concern, particularly among children under the age of five, of whom 19.6 per cent are affected.' Ciarrocchi claims that Eni's agri-hub contributes to the local economy, and has a positive impact on food security through the production of 'cakes,' a byproduct of oil production 'which has a strong protein component' and will be used as a feed for the local livestock. Lobbying for biofuels and traditional cars Europe reduced its support for biofuels in 2022, when the revision of the Renewable Energy Directive (RED II) discouraged 'first-generation' biofuels. These are fuels based on the use of vegetable oils, such as palm oil, which are responsible for deforestation and competition with food security. EU legislation also bans the sale of internal combustion engine vehicles by 2035, in favour of electric cars, though it recognises a role for 'sustainable' biofuels for air transportation. Eni is part of a coalition which is lobbying the European Commission to recognise traditional vehicles as 'zero-emission' through the use of biofuels, claiming that the CO2 produced is the same captured in the atmosphere by crops. 'We have two large manufacturing industries - vehicles and fuel producers - that have come together, united by a single goal,' Emanuela Sardellitti, a senior executive at FuelsEurope told us during an industry event at Eni's headquarters in Rome in June. 'To prove that even an internal combustion engine vehicle, which is banned by the auto CO2 legislation, therefore by a European standard, starting from 2035, is actually a vehicle that can be qualified as a zero-emission vehicle, through the use of renewable fuels,' she said. The Italian government backs this campaign in Brussels, and promotes the biofuel feedstock production in Africa through the 'Mattei Plan for Africa,' a development plan taking its name from the founder of Eni, Enrico Mattei. 'The Mattei Plan is a vehicle that serves [...] for the countries of North Africa and all of Africa to develop agricultural production,' Gilberto Pichetto Fratin, Minister of the Environment and Energy Security of Italy, said at the event at Eni's headquarters. 'And to benefit those countries, but also our country and all of continental Europe, with the consequent production of fuels,' he said. In Loudima, farmers have an ambivalent opinion of large-scale agricultural projects, such as Eni's agri-hub. 'Clearly we need everything [...] for the development of the Bouenza," Nsimba told us, 'but these are crops that the population does not benefit from, because they are mostly sold on the international market.' This story was supported bythe Pulitzer Center Rainforest Reporting Grant. Marien Nzikou-Massala contributed to this report.
Reuters
3 days ago
- Business
- Reuters
Angola discovers offshore gas in first gas-specific exploration well
CAPE TOWN, July 12 (Reuters) - Azule Energy, a partnership between BP (BP.L), opens new tab and Eni ( opens new tab in Angola, discovered gas in its first gas-specific exploration well off the country's shores, the national oil and gas agency ANGP said late on Friday. Found in block 1/14, the Gajajeira-01 well drilled in the lower Congo Basin encountered gas and condensate-bearing rock, with preliminary estimates suggesting gas volumes could exceed 1 trillion cubic feet and up to 100 million barrels of associated condensate. "This is a landmark moment for gas exploration in Angola," Adriano Mongini, CEO of Azule Energy said in a joint statement. "The Gajajeira-01 well is the first dedicated gas exploration well in the country and its success reinforces our confidence in the potential of the Lower Congo Basin." The block is operated by Azule Energy (35%) in association with Equinor (30%), Sonangol E&P (25%), and privately owned Angolan company Acrep S.A. (10%).
