Azule Energy Advances Diversified Oil & Gas Portfolio, Joins Angola Oil & Gas (AOG) 2024 as Platinum Sponsor

International energy company Azule Energy plans to increase oil production to 250,000 barrels per day (bpd) by 2026 while accelerating gas monetization through the development of non-associated projects. As the largest independent equity producer of oil and gas in Angola, the company’s diversified portfolio aligns closely with national objectives to sustain oil production above one million bpd while advancing the development of gas and associated industries.  

Azule Energy has joined the Angola Oil&Gas (AOG) conference as a Platinum Sponsor, underscoring the company’s commitment to Driving Exploration and Development Towards Increased Production in Angola – the theme of this year’s event. Azule Energy is also the sponsor of the AOG 2024 Networking Cocktail, while the company’s CEO Adriano Mongini is expected to discuss project developments, future investment plans and pioneering FPSO infrastructure. 

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; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, 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@energycapitalpower.com.

Azule Energy has recently awarded a slate of contracts for the development of the Agogo Integrated West Hub project, which features the development of a new production hub in Block 15/06. Manufacturing company Amarinth received an order to supply pumps while service provider Blue Water won a logistics contract for the Agogo FPSO vessel. In 2023, contracts worth $7.8 billion were awarded to infrastructure and service companies including Yinson; Baker Hughes; Aker Solutions; Saipem and Subsea 7.

Set to produce hydrocarbons from the already-producing Agogo field and the under-development Ndungu field, the project will utilize the Ngoma FPSO – already in operation – and the Agogo FPSO which is under construction. The Agogo vessel will produce 120,000 bpd with a gas injection capacity of 230 million cubic feet per day, with the development on track for production by 2026.

In addition to the Agogo project, Azule Energy’s operated assets include the onshore Cabinda Norte and Cabinda Centro blocks and offshore Blocks 31, 15/06, 1/14, 18 and 28. The company also signed Risk Service Contracts in December 2023 for Blocks 46, 47 and 18/15 – located in the Lower Congo Basin. These assets are strategic deepwater blocks and mark an important step towards unlocking new reserves across deepwater basins.

On the gas front, Azule Energy is progressing with the development of Angola’s first non-associated gas project – the Quiluma and Maboqueiro fields – through its operatorship of the New Gas Consortium. Situated in the shallow waters of the Northern Gas Complex, the produce will produce four billion cubic meters of gas per annum via two offshore platforms and an onshore gas processing plant. On track for first production by 2026, the fields will serve as feedstock for the Angola LNG project – a 12 billion project currently in operation.

Beyond oil and gas projects, Azule Energy is driving local content under efforts to promote sustainability and long-term economic growth. Through its various operations, the company has created thousands of job opportunities for local communities, incorporates specific skills development initiatives into projects and prioritizing local procurement in terms of goods, services and materials. Block 15/06 alone is projected to become a hub for local industries, creating up to 1,400 jobs while generating $5.6 billion by 2044. Additionally, to promote sustainable oil and gas operations, the company is currently producing its first-ever sustainability report, providing an overview of its Environmental, Social and Governance performance. During AOG 2024, strategies for enhancing local content and sustainable oil and gas operations will be further outlined.  

Distributed by APO Group on behalf of Energy Capital&Power.