Eni & bp team up to create Angolan energy company

Eni & bp team up to create Angolan energy company: Eni & bp have established a joint venture independent energy firm in Angola called Azule Energy.

The company will be in charge of over 200,000 barrels of oil & gas manufacturing a day as well as 2 billion equivalent barrels of net resources.

The creation of the company is anticipated to immediately make it Angola’s largest energy producer. Azule Energy will additionally take Eni’s stake in Angolan solar firm Solenova.

“Angola has long been important for bp operations & this innovative new venture underscores and enables our continued commitment to the country. Eni is a valued partner to be working with in the region.” bp Chief Executive, Bernard Looney announced.

CEO of Eni Claudio Descalzi stated “Combining two world-class businesses into one stronger team, Azule Energy will leverage synergies and high quality assets, boosting activities in Angola & will have one of the largest portfolios of production, development and exploration opportunities in Sub-Saharan Africa.”

Eni & bp team up to create Angolan energy company