• Azule Energy finds 500 million barrels offshore Angola
• Algaita-01 well drilled in 667-metre-deep waters
• Discovery supports Angola’s push to sustain oil output

Azule Energy’s joint venture has identified an estimated 500 million barrels of oil off Angola’s coast, the company said on Feb. 13 after drilling the Algaita-01 exploration well on offshore Block 15/06. The announcement was made in a joint statement with Angola’s National Oil, Gas and Biofuels Agency (ANPG).

The Algaita-01 well was drilled in January 2026 in the Lower Congo Basin, in waters about 667 metres deep. It lies roughly 18 kilometres from a floating production, storage and offloading (FPSO) vessel already operating in the area.

Drilling encountered multiple oil-bearing reservoirs, based on data collected during operations, including rock cuttings and fluid samples. The estimate refers to oil in place, before any recovery.

Azule Energy, the block operator with a 36.84% stake, holds the asset alongside SSI Fifteen Limited (26.32%) and state-owned Sonangol E&P (36.84%). The partners have not disclosed how much of the estimated resources may be recoverable, nor have they provided a development timeline.

The discovery comes as Angola seeks to reinvigorate upstream activity. In recent years, the ANPG has signed agreements with international companies to step up exploration in the Lower Congo Basin. Azule Energy, Sonangol E&P and Equinor are among firms working with the agency on offshore campaigns. In 2023, ANPG and Azule Energy signed a production-sharing agreement for Block 31.

The measures form part of a broader strategy to curb declining output. In late August 2025, authorities announced new drilling programmes aimed at keeping production near 1 million barrels per day.

Abdel-Latif Boureima