Azule Energy has discovered a substantial gas field off the coast of Angola during exploratory drilling operations, according to a Reuters report citing the country's National Oil, Gas, and Biofuels Agency (ANGP).
The discovery occurred in Block 1/14 in the Lower Congo Basin. The drilling of the Gajajeira-01 well revealed layers containing natural gas and condensate. Preliminary estimates suggest that the gas volume could exceed 1 trillion cubic meters, with associated condensate reaching up to 100 million barrels.
"This marks a historic moment for Angola's gas industry," stated Adriano Mongini, CEO of Azule Energy.
He highlighted that Gajajeira-01 is the first well in the country specifically targeted for gas exploration, and its success confirms the potential of resources in the Lower Congo Basin.
Block 1/14 is being developed by Azule Energy, which is equally owned by British Petroleum and Eni (50% each). The project's ownership is distributed as follows: Azule Energy — 35%, Equinor — 30%, Sonangol E&P — 25%, and Acrep S.A., a private Angolan company, — 10%.
In addition to its gas reserves, Angola is rich in oil and stands as one of Africa's largest oil producers. However, in early July, the country's authorities raised the diesel price by 33% to 400 kwanzas (approximately $0.43) per liter. This price hike marks the third increase this year as part of a gradual phase-out of fuel subsidies.
Zhenya Myl'nikova
