BP and Eni have formed a new independent company named Azule Energy through the combination of the two companies’ Angolan businesses. BP and Eni have signed an agreement to form a new independent company named Azule Energy through the combination of the two companies’ Angolan businesses. The creation of the 50/50 independent company agreement follows the memorandum of understanding between the companies agreed in May 2021. Azule Energy will be a new international energy company with more than 200,000 barrels equivalent a day (boe/d) of net oil and gas production and 2 billion barrels equivalent of net resources. It is expected to be Angola’s largest producer, holding stakes in 16 licenses, as well as participating in the Angola LNG joint venture. Azule Energy will also take over Eni’s stake in Solenova, a solar company jointly held with Sonangol. Azule Energy will have a strong pipeline of new projects starting […]