Azule Energy, jointly owned by Eni and BP, has made an oil discovery at the Algaita-01 exploration well in Block 15/06 offshore Angola, with initial estimates pointing to approximately 500 million barrels of oil in place.
The well, located in the offshore Lower Congo Basin, was spudded on January 10, 2026, in a water depth of 667 meters, around 18 km from the Olombendo floating production, storage and offloading (FPSO) unit.
It was drilled by the Saipem 12000 drillship, and encountered oil-bearing sandstones within Upper Miocene reservoir intervals.
Drilling operations were completed on January 26, followed by advanced formation evaluation logging to assess reservoir quality and fluid characteristics.
Preliminary interpretation of wireline logging and fluid sampling indicates multiple reservoir intervals with strong petrophysical properties and fluid mobility.
The discovery benefits from proximity to existing production infrastructure, which is expected to support future development options and enhance project economics, according to Eni.
Block 15/06 is operated by Azule Energy (36.84%), in partnership with SSI Fifteen Limited (26.32%) and Sonangol E&P (36.84%).
“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,” said Joe Murphy, CEO of Azule Energy.
“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 favorable conditions for swift monetization, 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,” added Paulino Jerónimo, Chairman & CEO of ANPG.
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