Guido Brusco, Chief Operating Officer Natural Resources, Eni will speak at the 2024 edition of the Angola Oil&Gas (AOG) Conference&Exhibition – taking place October 2-4 in Luanda under the theme Driving Exploration and Development Towards Increased Production in Angola. Through Azule Energy – a joint venture with energy major bp – the company has an extensive footprint across the Angolan oil and gas market and is looking at accelerating investments across the value chain.
Eni announced at AOG 2023 that – alongside project partners – will make a $1 billion investment in the development of non-associated gas in Angola. The investment covers two offshore well platforms (the Quiluma and Maboqueiro fields), an onshore gas processing plant and a connection to the Angola LNG project and is underpinned by efforts to increase production to four billion cubic meters per day. During this year’s event, Brusco is expected to provide an update on project activities while engaging with Angolan and global counterparts on new opportunities.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
With first gas planned for 2026, the Quiluma and Maboqueiro fields achieved FID in 2022. Spearheaded by the New Gas Consortium – in which Eni holds a 25.6% interest – the project will provide feedstock for the Angola LNG project, in which Eni holds a 13.6% stake. Currently, Angola LNG has a capacity to produce 5.2 million tons of LNG per year. Already exporting to global markets, the project is expected to support the development of associated sectors in Angola, including petrochemicals, agriculture and other industries.
Notwithstanding gas investments, Eni – through Azule Energy – is also spearheading various oilfield developments. These include the PAJ Complex Conventional Oilfield, which is set to start commercial production in 2026. The project, located in Block 31, expects FID in 2024 and will involve the spudding of 10 wells and the development of an FPSO vessel.
Meanwhile, Eni and project partners on the Agogo Integrated West Hub Development anticipate first production by 2026. An additional FPSO will arrive at the project site this year, with a capacity to produce 120,000 barrels per day (bpd) of oil. The project is considered one of Angola’s largest, with 36 wells set to drilled, including 21 production wells and 15 injection wells.
In addition to oil and gas development, Eni is partnering with Angola’s national oil company Sonangol to identify opportunities in decarbonization. The partners are assessing the development of agro-industrial supply chains for the production of low-carbon fuels while exploring opportunities in biomass and green ammonia. An MoU was signed in 2023 to determine the scope of cooperation in these areas.
During AOG 2024, Brusco is expected to take part in discussions around increasing production in Angola. His participation and contributions are poised to strengthen the conversation on Angola’s oil and gas future, with topics such as decarbonization, investing in exploration and strategies for maximizing value from oil and gas set to be at the forefront.
Distributed by APO Group on behalf of Energy Capital&Power.