Angola’s ANPG Confirms 500 Million-Barrel Oil Discovery at Algaita-01 Well in Block 15/06
National Agency of Petroleum, Gas and Biofuels (ANPG) has announced a new oil discovery at the Algaita-01 well in Block 15/06, located in the Lower Congo Basin offshore Angola.
The find is estimated to contain approximately 500 million barrels of oil in place, reinforcing the basin’s exploration potential.
Drilling Results
Drilling operations at Algaita-01 commenced on January 10 in water depths of 667 meters, approximately 18 kilometers from the FPSO Olombendo.
The well encountered oil-bearing sandstones within Upper Miocene reservoir intervals, confirming the presence of hydrocarbons in high-quality reservoir sections.
Drilling was completed on January 26, followed by advanced formation evaluation logging to assess reservoir characteristics, fluid properties, and overall development potential.
Strategic Significance
ANPG Chairman Paulino Jerónimo described the discovery as further evidence of the Lower Congo Basin’s strong prospectivity and the effectiveness of Angola’s ongoing exploration strategy.
He noted that the proximity to existing production infrastructure could accelerate commercialization, generating positive impacts on national output and government revenues.
Jerónimo also encouraged continued exploration under Angola’s incentive framework, including Decree 8/24 on Incremental Production and Decree 5/18, which permits additional research and drilling activities within and adjacent to established development areas.
Operator Perspective
Block 15/06 is operated by Azule Energy. CEO Joseph Murphy stated that the Algaita-01 results extend the block’s track record of exploration success, marking the 22nd discovery in the license area and reaffirming the robustness of its petroleum system.
He emphasized that the presence of multiple nearby production facilities enhances the economic viability of the discovery by enabling potential tie-backs and optimized development scenarios.
Broader Industry Context
Angola remains one of Africa’s leading oil producers but has experienced annual production declines of roughly 15–16% in recent years due to maturing fields.
The government is targeting sustained output above one million barrels per day by 2030, supported by an estimated $70 billion in planned upstream investments.
The Algaita-01 discovery strengthens Angola’s resource base and could play a role in stabilizing long-term production through infrastructure-led, cost-efficient developments in mature offshore blocks.
