Africa-Press – Angola. Azule Energy expects to invest around 2 billion euros a year over the next 36 months in oil and non-associated gas production projects, said, this Thursday, the executive director of the company, Adriano Mongini.
Speaking to the press at the 38th edition of the Luanda International Fair (FILDA), the manager explained that the amounts will be invested in the new gas consortium and in the Agogo projects.
He considered it an ambitious initiative, with a forecast for the first gas in July 2026, stating that “it is the first non-associated gas production project in Angola”.
Adriano Mongini said that there are partnerships in the area of decarbonisation, in which they support Sonangol at the Luanda Refinery, and plan to install a green refinery.
Azule Energy is an independent joint venture officially established on 1 August 2022 that combines BP’s and ENI’s businesses in Angola on an equitable basis.
It is the largest independent oil and gas producer in Angola, holding two billion barrels of oil equivalent in liquid resources and expects to increase to around 250,000 barrels of oil/day of its own production over the next five years.
The company has stakes in 20 licenses, six of which are exploration blocks, a stake in Angola LNG and is the operator of the Novo Consórcio de Gás.
Azule Energy also took over ENI’s stake in Solenova, a solar company owned jointly with Sonangol, and the collaboration in the Luanda Refinery.
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