Angola Strikes Massive Offshore Gas Discovery Worth Over $1 Trillion
Major breakthrough as country’s first dedicated gas exploration well reveals enormous reserves
Angola has struck oil and gas gold with a massive offshore discovery that could reshape the nation’s energy future. Azule Energy confirmed a significant gas find off Angola’s coast following successful drilling of the Gajajeira-01 well, marking the country’s first exploration well dedicated solely to gas.
The well, located in the Lower Congo Basin, has revealed over one trillion cubic feet of gas reserves along with up to 100 million barrels of associated condensate. This landmark discovery was announced on Friday, July 12, by Angola’s National Oil and Gas Agency (ANGP) and represents a game-changing moment for the nation’s energy sector.
Azule Energy, a partnership between BP and Eni, operates the block with a 35% stake. The consortium includes Equinor with 30%, Angola’s state-owned Sonangol E&P with 25%, and privately held Angolan company Acrep S.A. holding the remaining 10%.
“This is a landmark moment for gas exploration in Angola. The Gajajeira-01 well is the first dedicated gas exploration in the country, and its success reinforces our confidence in the potential of the Lower Congo Basin,” said Azule Energy CEO Adriano Mongini.
The discovery aligns perfectly with Angola’s Gas Master Plan, which targets a 25% share of natural gas in the national energy mix by 2025. The plan aims to attract billions in investment, expand domestic power and industrial capacity, and strengthen Angola’s role as a regional gas exporter.
This breakthrough builds on a decade-long effort that began with the launch of the Angola LNG plant in Soyo in 2013. Recent developments such as the Sanha Lean Gas Connection and the Quiluma-Maboqueiro project are key milestones in Angola’s ambitious gas development strategy.
With Angola recently identified by the Africa Finance Corporation as a rising hub in Africa’s energy transformation, this discovery adds further momentum to the country’s growing strategic importance in the sector.
Source: cedirates.com
