Ver Angola


Three contracts signed to promote oil exploration in Angola

The National Oil, Gas and Biofuels Agency (ANPG), Azule Energy, Sonangol and Equinor signed, this Wednesday, three risk-bearing service contracts to encourage the development of exploration activities in the Lower Congo Basin.


ANGP and Azule Energy signed risk-bearing service contracts for offshore blocks 46 and 47 in partnership with Equinor and Sonangol Pesquisa & Produção and for block 18/15 in partnership with Sonangol Pesquisa & Produção.

These agreements are the result of direct negotiations between the parties and represent "another commitment to the development of exploration activities in the Lower Congo Basin", says the statement sent this Wednesday to Lusa.

According to the document, like other recently signed contracts, these, initialed this Wednesday, result from the recommendations of the Competitiveness Study carried out by ANPG between 2022-2023, with a view to finding solutions and defining strategies that make the oil sector more competitive and attractive.

Azule will operate the three blocks with a 40 percent stake in blocks 46 and 47 and 80 percent in block 18/15.

Angolan state-owned company Sonangol Pesquisa & Produção holds a 20 percent stake in each block and Equinor a 40 percent stake in blocks 46 and 47. The three licenses cover an area of approximately 8,700 square kilometers in the deep and ultra-deep waters of the Angolan coast.

For Azule, this is the second license grant for exploration blocks in which it has been involved since the creation of the joint venture by BP and ENI, in August 2022.

According to the statement, Azule's CEO, Adriano Mongini, said that the company he represents sees itself as "a strategic partner of the country" where it operates.

The president of ANPG, Paulino Jerónimo, highlighted that the signing of the aforementioned agreements represents another achievement for the national concessionaire.


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