The Angolan National Agency of Petroleum, Gas and Biofuels (ANPG), together with Azule Energy and its partners, has announced an oil discovery at the Algaita-01 exploration well in Block 15/06, located in the offshore Lower Congo Basin, Angola.
The well, operated by Azule Energy with a 36.84% interest alongside SSI Fifteen Limited (26.32%) and Sonangol E&P (36.84%), was spudded on 10 January 2026 in water depths of 667 metres, approximately 18 kilometres from the Olombendo floating production storage and offloading vessel (FPSO).
According to the partners, the well encountered oil-bearing sandstones within Upper Miocene reservoir intervals. Drilling operations were completed on 26 January, followed by formation evaluation logging and fluid sampling to assess reservoir quality and fluid characteristics.
Preliminary interpretation of wireline logging and sampling results indicates the presence of multiple reservoir intervals with strong petrophysical properties and fluid mobility.
Initial estimates place discovered oil in place at approximately 500 million barrels.
Azule Energy Chief Executive Officer Joe Murphy said the discovery builds on the block’s exploration track record.
“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,” Murphy said.
ANPG Chairman and Chief Executive Officer Paulino Jerónimo said the discovery reaffirms the prospectivity of the Lower Congo Basin and supports ongoing exploration efforts.
“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 favourable conditions for swift monetisation, 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,” Jerónimo said.
Azule Energy is an incorporated joint venture equally owned by BP p.l.c. and Eni SpA, producing around 200,000 barrels of oil equivalent per day. The company also holds exploration interests in Namibia’s Orange Basin.
In 2024, Azule Energy acquired a 42.5% interest in Block 2914A (PEL85) in Namibia’s Orange Basin following a farm-out agreement with Rhino Resources. The contractor group for the block includes Azule Energy Exploration Angola (42.5%), Rhino Resources Namibia Ltd (42.5%, operator), Namcor Exploration and Production (10%), and Korres Investments (5%), with Azule Energy retaining the option to assume operatorship during the development phase.
