Azule Energy strikes oil offshore Angola

LUANDA, February 16, 2026 – Azule Energy has discovered oil at the Algaita-01 well in the Lower Congo Basin offshore Angola, the company said on Friday.

The find was made in Block 15/06 around 18 kilometres from the Olombendo FPSO, with preliminary results indicating oil in place of approximately 500 million barrels. The well, drilled to a depth of 667 metres, encountered oil-bearing sandstones within Upper Miocene reservoir intervals. Partners on the block include SSI Fifteen and Sonangol E&P.

“The Algaita-01 results build on a long successful track record of 22 discoveries,” Azule Energy CEO Joe Murphy said. ANPG chairman and CEO Paulino Jerónimo added that the discovery reaffirms the Lower Congo Basin’s high potential and supports “swift monetisation” under existing incentive mechanisms.

Read our latest interview with Azule Energy here.

Azule Energy is a joint venture between BP and Eni, producing around 200,000 boepd in Angola. Its portfolio spans exploration and production assets across Angola and Namibia, with ongoing investments aimed at boosting national output and supporting energy transition goals.

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