Angola joint venture. Eni press release.

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.]