Core Insights - BP plc and Eni SpA's joint venture, Azule Energy, has discovered gas in the Gajajeira-01 exploration well located in Angola's Block 1/14, marking the first well in the country dedicated solely to gas discoveries [1][2] Reservoir Details and Geological Insights - The Gajajeira-01 well was drilled at a depth of 95 meters in water and encountered gas and condensate reserves in the Lower Oligocene formation, specifically LO100 [2] - Preliminary assessments indicate the reservoir may contain over 1 trillion cubic feet (Tcf) of gas and up to 100 million barrels of associated condensate, with drilling continuing towards the LO300 target [3] Future Development Plans - Azule Energy plans to evaluate the full potential of the gas discovery and collaborate with partners to develop a plan for its potential development, which is expected to enhance Angola's energy security [4] - Angola aims to increase its oil production to 1.1 million barrels per day, recovering from a peak of 2 million barrels per day in 2008, following a decline due to reduced investment in offshore developments [4]
BP-Eni JV Strikes Gas Offshore Angola, Estimates Over 1 Tcf Gas Find