Azule Energy - an incorporated Joint Venture among oil and gas supermajors Eni and bp - and international energy company Equinor have signed a Production Sharing Agreement (PSA) with Angola’s National Agency for Petroleum, Gas and Biofuels (ANPG) for Block 31/21, offshore Angola.
Reported by Azule Energy on 31 August, the agreement is a result of the southern African nation's 2021/2022 Restricted Seaward Permitting Round.
The PSA will involve drilling one exploration well during the initial 5 year exploration period.
"The mark of the PSA for Block 31/21 grows Azule's operatorship position in this proven and notable oil framework where Azule Energy had extraordinary investigation achievement and found significant oil gatherings in nearby blocks," expressed Azule Energy President Adriano Mongini, adding, "Azule Energy is extremely pleased to support its situation as an essential accomplice of Angola and as the biggest free value maker of oil and gas in the country."
Arranged around 170km from Angola's shoreline in the Lower Congo Bowl, Block 31/21 envelops an area of generally 4,500km2 and flaunts 12 disclosures close to existing foundation.
Under the PSA, Block 21/31 will be worked by Azule Energy with a half taking part interest.