Angola has made a major natural gas discovery, marking a breakthrough in the country’s efforts to diversify its fossil fuel production. Azule Energy, a joint venture between BP Plc (NYSE:BP), Eni S.p.A. (NYSE:E) and a group of Angolan companies successfully drilled the country’s first dedicated gas exploration well in the Lower Congo Basin, with preliminary estimates suggesting the reserve holds more than 1 trillion cubic feet of natural gas and up to 100 million barrels of condensates.
Azule Energy, a joint venture owned equally by bp Plc and Eni SpA, have announced a major gas discovery at its Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola.
Turkey has discovered 75 billion cubic meters of natural gas worth $30 billion dollars in the Black Sea, according to President Recep Tayyip Erdogan.
Italy’s Eni and its partner TotalEnergies have made a significant gas discovery in Block 6, offshore Cyprus.
Eni said that the discovery follows the initial finding in a shallower zone of the same well, aggregating to a total gas in place of 2.5 – 3.5 tcf.