(OM) Azule Energy, the joint venture between BP and Eni, and Equinor have signed a production sharing agreement for block 31/21 offshore Angola with the country’s National Agency of Petroleum, Gas and Biofuels.
The award, related to Angola’s 2021/2022 Limited Offshore Licensing Round, covers a 4,500-sq km deepwater area in the Lower Congo basin, 170 km from the coast.
Azule plans to drill one well during the initial five-year exploration period.
In addition, the company has signed a memorandum of understanding with Sonangol on decarbonization initiatives in Angola to promote use of clean energy. Aims include establishing a framework to assess potential collaborations, and investigating opportunities for renewable energy projects such as wind and solar and low-carbon businesses such as blue hydrogen.
The partnership also plans joint studies on carbon taxes and credits, and developing improved national regulations and best practices in the sector.
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