Azule Energy, the new joint venture of British BP and Italian ENI in Angola, was officially presented this Monday in Luanda. With the assumed ambition of turning this joint venture into the largest oil and gas production company in the country, the first objectives were set: production of 250,000 barrels/day over the next five years and a leading role in the natural gas subsector.
In a statement, ENI said that Azule Energy wants to be the largest independent oil and gas producer in Angola, holding around two million barrels of liquid resources. It also holds stakes in 16 licenses (of which six are exploration blocks) and a stake in Angola LNG. It will also take over ENI’s stake in Solenova, a solar energy company jointly owned with Sonangol, and collaborate on the Luanda Refinery project.
The presentation of the company – 50 percent owned by each of its constituents – took place this Monday, in Luanda, with the presence of the CEO of Azule Energy, Adriano Mongini, as well as the Minister of Mineral Resources, Petroleum. and Gas, Diamantino de Azevedo and the Secretary of State for Oil and Gas, Alexandre Barroso.
To the ministry, those responsible for Azule Energy assured an appreciation of the staff of the two companies, re-affirming the intention to produce 250,000 barrels of oil per day for the next five years and to become a key protector in the natural gas subsector.
Claudio Descalzi stated that this is an important milestone for the company “marking a step forward in ENI’s strategy to leverage its best assets”. “A new and strong entity is born, which combines our experience, competence and technologies with those of our partner BP, placing them at the service of the development of Angolan energy resources, with a priority commitment to environmental protection and the growth of the local economy. ”, added the official.
Bernard Looney, Executive Chairman of BP, stressed that the formation of Azule Energy is an important step for both companies and also for Angola. “By combining our Angolan businesses, and leveraging the experience of BP and ENI, we will continue to safely and efficiently develop Angola’s resilient hydrocarbon resources and pursue opportunities in oil, gas and other energies. Azule Energy continues our commitment to Angola and will create real value for both companies and the country,” he said.
Adriano Mongini, CEO of Azule Enegy, was in Luanda for the company’s official presentation, stating that he is honored to be the company’s first CEO. “Together with a highly competent and motivated leadership team, we are committed to unlocking the full potential of the company’s portfolio in terms of development and exploration opportunities. With financial discipline and a focus on HSE [HSE in Portuguese – Health, Safety and Environment], Azule Energy will maximize the value of assets for the benefit of Angola and shareholders,” he said.
The event also brought together dozens of people with an interest in the oil and natural gas sector, including the Minister of Culture, Tourism and Environment, Filipe Zau, the Secretary of State for Mineral Resources, Jânio Corrêa Victor, and the United States Ambassador. of America, Tulinabo Mushingi.
