“Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that can be a game changer for our company and the country’s energy industry."
These steps would “significantly reduce” the FPSO’s overall carbon emissions and improve operational efficiency, it said.
“We’re confident we can complete by year end. We’ve been through it with the INA deal and hopefully we can be more efficient this time around,” he said.
Under the agreement, the companies will drill one exploration well in the initial five-year exploration period.
Azule Energy has awarded TechnipFMC work to supply flexible pipe for its Ndungu project offshore Angola.
“We’ve been reassured that approval for both transactions will be relatively efficient, they should be done before the end of the year”.
Azule signed the main contracts for the Agogo project on Block 15/06 in February. It awarded riser and flowline supply to TechnipFMC, while Subsea 7 won transportation and installation work.
According to a recent Eni presentation, Agogo is due to start up in 2026. It will produce 175,000 barrels per day in 2027.
Saipem has won three new drilling contracts in the Middle East, and two in West Africa, with a total value of $800 million.
Saipem has won contracts under Angola’s New Gas Consortium (NGC), to develop new sources of feedstock for the Angola LNG (ALNG) plant.
Angola based Azule Energy, the independent 50:50 joint venture between BP and Eni, has begun production, taking responsibility for over 15% of the country's oil exports.
Eni believes its Ndungu field could hold 800 million to 1 billion barrels of oil equivalent in place.
Italian Minister of Foreign Affairs Luigi di Maio has visited Angola and Congo Kinshasa in order to secure new sources of gas.
BP and Eni have reached an agreement to combine their Angolan businesses in a 50:50 joint venture.