Eni and Azule Energy Commit Billions to Angola Oil and Gas with Focus on Deepwater, Gas, and Clean Energy
The CEO of Italian multinational oil company Eni announced that Azule Energy has already invested $5 billion (4.3 billion euros) in Angola and plans to invest additional funds over the next four years.
Speaking at the 6th Angola Oil & Gas International Conference, Claudio Descalzi emphasized Eni’s pioneering role in deepwater operations and complex, market-oriented projects, highlighting Block 15/06, which has achieved an 82 percent success rate in exploration wells, resulting in the discovery of nearly six billion barrels of oil equivalent.
Formed in 2022, Azule Energy brings together Eni and BP in Angola. Descalzi noted that the company’s operations have been distinguished by safety and efficiency.
Among key projects, he highlighted the Agogo FPSO platform, which began producing oil just 29 months after the final investment decision and is designed to operate carbon-neutrally throughout its lifecycle. The platform, which arrived in Angola in May 2025, operates in Block 15/06.
Descalzi emphasized the growing role of natural gas in diversifying Angola’s energy mix and reducing carbon emissions.
He noted the New Gas Consortium in the Quiluma and Maboqueiro fields, the country’s first non-associated gas development, which will provide a reliable supply for Angola’s LNG plant.
He also highlighted Azule Energy’s discovery in Gajajeira, the first dedicated gas exploration well in Angola, which is expected to support the country’s economic growth.
On the energy transition front, Descalzi pointed to the Caraculo Photovoltaic Plant, inaugurated in 2023 with an initial capacity of 25 megawatts of clean energy.
He added that Eni is working to optimize and expand production at the Luanda Refinery and exploring a new biorefinery dedicated to sustainable aviation fuel.
According to Descalzi, Eni’s strategy is built on a strong financial and industrial foundation, designed to deliver long-term benefits to Angola’s energy sector and reinforce the country’s role in the global energy transition.
