Eni and bp finalise agreement to create new independent joint venture in AngolaLuanda (Angola), 11 March 2022 - bp and Eni confirmed today that they have signed an agreement to form a new 50/50 independent company, Azule Energy [a bp and Eni Company], through the combination of the two companies' Angolan businesses.Azule Energy will be a new international energy company, independently managed, 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.Bernard Looney, bp's chief executive, said: "Angola has long been important for bp operations and this innovative new venture underscores and enables our continued commitment to the country."Claudio Descalzi, CEO of Eni, said: "The creation of Azule Energy is a further step in advancing our strategic approach to accelerate growth through focused lean and financially independent companies."Company Contacts:Press Office: Tel. +39 02 52031875 – +39 06 59822030ufficio.stampa@eni.comWebsite: www.eni.com[This is Eni's own version of the deal-signing press release; see also the parallel bp-issued version of the same announcement, dated the same day on this listing page.]
Greater PAJ first cut
The first steel cutting ceremony for the Greater PAJ FPSO topside process modules was held at Haiyang CIMC Raffles’ Haiyang yard in China, officially marking the start of the topside construction phase of this strategic project for Angola’s offshore energy sector.
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