Eni CEO Announces Major Investment Expansion in Angola’s Energy Sector
Italian multinational Eni’s CEO Claudio Descalzi revealed that Azule Energy has invested $5 billion in Angola with plans for additional substantial investments over the next four years. The announcement came during remarks highlighting Eni’s pioneering role in deepwater operations and complex market-oriented projects.
Descalzi emphasized the success of Block 15/06, which achieved an impressive 82 percent success rate in exploration wells, resulting in discoveries totaling nearly six billion barrels of oil equivalent. Azule Energy, formed in 2022 as a partnership between Eni and BP in Angola, has distinguished itself through safety and efficiency in operations.
Key achievements include the Agogo FPSO platform, which began oil production just 29 months after final investment decision and operates carbon-neutrally throughout its lifecycle. The platform, which arrived in Angola in May 2025, operates in the productive Block 15/06.
The CEO highlighted natural gas’s growing role in diversifying Angola’s energy mix and reducing carbon emissions, noting the New Gas Consortium in Quiluma and Maboqueiro fields as the country’s first non-associated gas development. This project provides reliable supply for Angola’s LNG plant while supporting economic growth through the Gajajeira discovery, Angola’s first dedicated gas exploration well.
Eni’s energy transition efforts include the Caraculo Photovoltaic Plant, inaugurated in 2023 with 25 megawatts of clean energy capacity, alongside optimization work at the Luanda Refinery and exploration of sustainable aviation fuel biorefinery development.
Source: angolanminingoilandgas.com
