• Subscribe
  • Magazine
  • Videos
  • Webcasts
  • Events
  • About Us
  • Exclusive Content
    1. Regional Reports
    2. Africa

    Azule Energy, Equinor sign agreement for exploration block offshore Angola

    Sept. 14, 2023
    Azule Energy and Equinor have signed a production sharing agreement for block 31/21 offshore Angola with the country’s National Agency of Petroleum, Gas and Biofuels.
    Courtesy Azule Energy
    Azule Energy Gt Pman Cr Scaled 6502fa2550c60

    Offshore staff

    LUANDA, Angola – Azule Energy, the joint venture between BP and Eni, and Equinor have signed a production sharing agreement for block 31/21 offshore Angola with the country’s National Agency of Petroleum, Gas and Biofuels.

    The award, related to Angola’s 2021/2022 Limited Offshore Licensing Round, covers a 4,500-sq km deepwater area in the Lower Congo basin, 170 km from the coast.

    Azule plans to drill one well during the initial five-year exploration period.

    In addition, the company has signed a memorandum of understanding with Sonangol on decarbonization initiatives in Angola to promote use of clean energy. Aims include establishing a framework to assess potential collaborations, and investigating opportunities for renewable energy projects such as wind and solar and low-carbon businesses such as blue hydrogen.

    The partnership also plans joint studies on carbon taxes and credits, and developing improved national regulations and best practices in the sector.

    09.14.2023