Azule Energy has signed up to explore three blocks offshore Angola following direct negotiations with Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG).
Azule, Equinor and Sonangol P&P will explore Blocks 46 and 47, the company said. Sonangol P&P has 20% and Equinor 40%, while Azule has 40% and will act as operator.
These two blocks are to the west of Block 31, which Azule owns.
The company will also work on Block 18/15 with an 80% stake. Sonangol P&P holds the remaining 20%.
BP, a part owner of Azule, began discussions with Sonangol on these three blocks in 2018.
It holds the Lower Congo Basin blocks under risk-service agreements (RSAs). The three licences cover around 8,700 square km in deep and ultra-deepwater.
“We continue our mission as a strategic partner and to remain the biggest equity oil and gas producer in Angola,” said Azule CEO Adriano Mongini.
“Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that can be a game changer for our company and the country’s energy industry.”
Meanwhile, exploration in Block 18/15 “can potentially open a new play and take advantage of the synergies with the production facilities already existing in Block 18”.
ExxonMobil signed RSAs on its entry into the higher-risk Namibe Basin in 2020.
Azule signed up to explore Block 31/21 in late August, with Equinor. This production-sharing agreement (PSA) stemmed from the 2021-22 licence round.
BP and Eni teamed up in August 2022 to create the Azule joint venture. It has production of around 220,000 barrels per day of oil and more than 2 billion barrels of resources.
Azule took a final investment decision (FID) on the $7.8 billion Agogo project in February this year, on Block 15/06.
Sonangol is continuing its privatisation process. At the start of December, for instance, it launched a process to sell off its SonAir fleet.
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