Azule Energy has announced a significant oil discovery at the Algaita‑01 exploratory well in Block 15/06, located in the Lower Congo Basin offshore Angola, marking another major milestone for the bp‑Eni joint venture as it expands its footprint in the region.
The well lies approximately 18 kilometres from the Azule Energy‑operated Olombendo floating production, storage and offloading (FPSO) vessel.
Preliminary estimates indicate the discovery could hold around 500 million barrels of oil, according to the company.
Azule Energy, a 50:50 joint venture between bp and Eni, operates Block 15/06 with a 36.84 per cent interest.
Its partners are SSI Fifteen, which holds 26.32 per cent, and Sonangol E&P, which also holds 36.84 per cent.
The Algaita‑01 result adds to a long series of finds by Azule Energy, reinforcing the company’s confidence in Angolan offshore reserves.
Chief Executive Officer Joe Murphy said: “The Algaita‑01 results build on a long successful track record of 22 discoveries, once again confirming the exceptional effectiveness of the petroleum system in Block 15/06.
“The presence of multiple nearby producing facilities further enhances the value of this new exploratory success.
“We are proud to deliver another significant result together with our partners and to continue creating opportunities for further growth.”
Block 15/06 has been one of Angola’s most productive areas in recent years, hosting multiple producing hubs including the Olombendo and Ngoma FPSOs.
The proximity of Algaita‑01 to existing infrastructure is expected to shorten the time to development and reduce capital costs, improving project economics.
Drilling of the Algaita‑01 well began on 10 January 2026, with the Saipem 12000 drill‑ship operating in a water depth of 667 metres.
The well was completed on 26 January, followed by detailed formation evaluation and data acquisition to assess reservoir quality and fluid composition.
According to Azule Energy, initial analysis from wireline logging and fluid sampling confirmed multiple reservoir intervals with excellent petrophysical characteristics and fluid mobility.
Oil‑bearing sandstones were encountered across several Upper Miocene intervals, noted for their high reservoir quality.
A thorough testing and sampling programme verified the favourable petrophysical and fluid attributes of the hydrocarbon zones, supporting confidence in the commercial viability of the find.
While further appraisal is required, early indications suggest strong flow potential and straightforward integration into existing developments.
The discovery strengthens Angola’s position as one of Africa’s top oil producers and supports the government’s goal to stabilise output levels after several years of decline.
The proximity of the well to existing facilities is also expected to accelerate development timelines and contribute to near‑term production growth.
Paulino Jerónimo, Chairman and CEO of the Angolan National Agency of Petroleum, Gas and Biofuels (ANPG), highlighted the strategic value of the discovery, stating: “The discovery of the Algaita‑01 well, in Block 15/06, reaffirms the high potential of the Lower Congo Basin and the consistency of the ongoing exploration strategy, creating favourable conditions for swift monetisation, with positive impacts on national production and state revenues.
“The ANPG encourages the continued identification of new opportunities under the existing incentive mechanisms, particularly Decree 8/24 on Incremental Production, as well as Decree 5/18, which establishes the legal framework that allows exploration within and near development areas.”
The find follows Azule Energy’s gas discovery in July 2025 at the Gajajeira‑01 exploration well in Block 1/14, also in the Lower Congo Basin.
Together, these results confirm the region’s strong geological potential and underline Azule Energy’s continued focus on exploration as a growth driver.
Formed in 2022, Azule Energy has become Angola’s largest independent equity producer of oil and gas.
Through sustained exploration success and efficient use of existing infrastructure, the company aims to boost production while supporting Angola’s broader energy transition strategy.
With Algaita‑01 now joining the list of successful wells in Block 15/06, Azule Energy and its partners are expected to move quickly into the appraisal phase to further define recoverable volumes and plan development options.
