AZULE ENERGY COMMITS MASSIVE $5 BILLION INVESTMENT TO ANGOLA
Azule Energy, the powerhouse joint venture between Italian energy giant Eni and British petroleum major BP, has announced a staggering $5 billion investment commitment to Angola over the next four to five years.
This massive financial injection matches the total investments the company has made since launching operations three years ago in Sub-Saharan Africa’s second-largest oil producer. The announcement comes as Angola aggressively overhauls its regulatory framework to attract international investment and maintain crucial oil production above the one million barrels per day threshold.
Eni’s Chief Operating Officer Guido Brusco revealed that the ambitious plan includes drilling 18 wells over the next four to five years, with two-thirds operated by Azule and one-third by partner companies. This represents one of the largest single investment commitments to Angola’s energy sector in recent years.
The investment underscores international confidence in Angola’s reformed regulatory environment and its potential for sustained energy production growth despite recent output challenges.
Sources: Reuters, Baird Maritime
