Azule Energy, a 50:50 joint venture (JV) between bp and Eni, has made an oil discovery at the Algaita-01 exploratory well in Block 15/06, located in the Lower Congo Basin offshore Angola.
Block 15/06 is operated by Azule Energy with a 36.84% interest, alongside partners SSI Fifteen, holding 26.32%, and Sonangol E&P with 36.84%.
The Algaita-01 well is approximately 18km from the Azule Energy-operated Olombendo floating production, storage, and offloading (FPSO) vessel. On a preliminary basis, the discovery is estimated to contain around 500 million barrels of oil.
Azule Energy CEO 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.”
The drilling operation for the Algaita-01 well commenced on 10 January 2026 and was executed by the Saipem 12000 drill-ship at a water depth of 667m.
Drilling activities concluded on 26 January, followed by formation evaluation logs aimed at assessing reservoir quality and fluid characteristics.
Preliminary analysis from wireline logging and fluid sampling suggests multiple reservoir intervals with excellent petrophysical qualities and fluid mobility.
Oil-bearing sandstones were discovered across several Upper Miocene intervals, noted for their favourable petrophysical properties.
A thorough data acquisition process including fluid sampling verified both the reservoir’s quality and the characteristics of its fluids.
According to Eni, the existing production infrastructure in proximity to the discovery site enhances the potential value and development prospects of the find.
Angolan National Agency of Petroleum, Gas and Biofuels (ANPG) chairman and CEO Paulino Jerónimo said: “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.”
