With a long history in Angola, bp has played an instrumental role in unlocking significant value from the country’s oil and gas resources. Initial forays by the energy major in the 1990s included the acquisition of four deepwater blocks, with a further five deep and ultra-deepwater blocks across the Kwanza and Benguela basins acquired in 2011. These investments marked the start of a decades-long commitment to Angola, with the energy major contributing significantly to the country’s oil production. Many of these blocks continue to account for a significant share of the country’s production portfolio, including Block 18 and 31 in the Lower Congo basin and Blocks 19 and 24 in the Kwanza and Benguela basin.

Following a merger of bp’s Angolan assets in 2022 with those of energy major Eni, the companies further strengthened their operational stronghold in Angola. The merger led to the establishment of the largest independent equity producer of oil and gas in the country and one that continues to play a central role in Angola’s oil and gas market. The company’s asset portfolio comprises 18 licenses – of which 11 are operated by Azule Energy and one is situated in Namibia. Azule energy also has a stake in the country’s sole LNG facility: Angola LNG. With a target to increase oil production to 250,000 barrels per day – up from the current 210,000 bpd – while advancing non-associated gas development, Azule Energy is accelerating the development of several impactful projects.

The company is preparing to start operations at the Agogo FPSO vessel in the second half of 2025. The vessel – arriving in Angolan waters in May 2025 – will be situated at the Agogo Integrated West Hub Development, joining the operational Ngoma FPSO to harness resources from Block 15/06. The vessel will increase the block’s production capacity by 120,000 bpd and features a combined cycle power generation unit, advanced electrification and digital automation, a seawater-driven turbine generators and a vapor recovery unit to eliminate flaring. The vessel will add to Azule Energy’s existing portfolio of operational FPSOs in Angola, with four deepwater vessels. currently in production.

Beyond Agogo, Azule Energy is developing Angola’s first non-associated gas projects through its operatorship of the New Gas Consortium. The project will harness gas resources at the Quiluma & Maboqueiro shallow water fields, thereby enhancing feedstock for the Angola LNG facility. As of February 2025, the project partners – namely, Cabinda Gulf Oil Company, Sonangol P&P and Totalenergies – completed the offshore platforms for the project. Production is expected to start in late-2025 or early-2026, six-months ahead of schedule.

These developments coincide with a drive to enhance clean energy development in Angola, with Azule Energy spearheading projects in biorefining and solar. The company is developing the Caraculo solar photovoltaic plant through Solenova – a joint venture with Sonangol – which will be located in the province of Namibe. The project targets a total capacity of 50 MW, with the first 25 MW phase coming online in 2023. In 2024, Azule Energy and Sonangol signed an agreement to enhance decarbonization at the operational Luanda Refinery – the country’s sole operating refining facility. The agreement will see the partners conduct a feasibility study for the development of a biorefinery at the facility, aiming to advance low-carbon energy solutions in Angola. These projects reflect the commitment by bp to advance Angolan energy production and Auchincloss’ participation at the country’s premier industry event is expected to generate greater understanding of the company’s portfolio, ongoing projects and future investment plans.