Norway’s BW Energy Evaluates Purchase of Azule Energy’s Non-Operating Stake in Angola’s Offshore Block 14/14K
Norwegian oil and gas company BW Energy has announced that it is evaluating the potential acquisition of Azule Energy’s non-operating stake in Block 14/14K, located offshore Angola. The company emphasized that no binding agreement has been reached and there is no certainty that the discussions will lead to a transaction.
In a statement published on its website, BW Energy explained that its growth strategy includes the continuous assessment of asset acquisition opportunities, as part of its effort to expand its offshore production portfolio.
Block 14/14K, operated by the Cabinda Gulf Oil Company—a Chevron subsidiary—was Angola’s first deepwater block to enter production in 1999, marking a milestone in the country’s shift toward deepwater oil exploration.
Azule Energy, a joint venture between Italy’s Eni and the UK’s BP, currently holds 20% of Block 14 and 10% of Block 14K. Other partners in the consortium include Chevron, TotalEnergies, Sonangol, the Congolese national oil company SNPC, and Etu Energias, which in 2024 acquired Galp’s former stakes—9% in Block 14 and 4.5% in Block 14K.
A non-operating stake allows shareholders to share in profits and financial responsibilities but does not grant control over operational management or technical decisions, which remain under the authority of the operator.
BW Energy, part of the Norwegian BW Group, is an independent exploration and production company focused on developing proven offshore oil and gas reserves with low-risk, high-return projects.
The company currently operates assets in Gabon, Brazil, and Namibia, with estimated reserves and resources of 599 million barrels of oil equivalent as of early 2025.
Beyond BW Energy, Norwegian involvement in Angola’s oil sector also includes Equinor (formerly Statoil), one of the world’s largest energy companies, which holds stakes in offshore Blocks 15, 17, and 31, underscoring Norway’s growing presence in Angola’s offshore energy industry.
