ANPG and Azule Energy Announce First Oil from the Agogo FPSO

PRESS RELEASEANPG and Azule Energy Announce First Oil from the Agogo FPSOLUANDA, Angola – 29 July, 2025 – The National Agency for Petroleum, Gas and Biofuels (ANPG) and Azule Energy announced on Tuesday, 29 July, the successful startup and first oil production from the Agogo FPSO. This is the centrepiece of the Agogo Integrated West Hub (Agogo IWH) project, offshore Angola, which involves the development of two fields, Agogo and Ndungu, in the West Hub of Block 15/06.The Agogo IWH project operated by Azule Energy in Block 15/06, with a 36.84% stake alongside partners Sonangol E&P (36.84%) and Sinopec International (26.32%), is set to add substantial production to Angola's energy landscape. The Agogo and the Ndungu fields, combined have estimated reserves of approximately 450 million barrels, with projected peak production of 175,000 barrels per day, produced via two FPSOs (Agogo and Ngoma).Sanctioned in February 2023, the Agogo IWH project began production in just 29 months, setting new benchmarks for the industry.The milestone now reached is the result of a coordinated effort, with over 40 million man-hours executed across more than 15 countries.All topside and marine systems have been designed to be fully electric, including the first Combined Cycle Power Generation units ever deployed on an FPSO and the world's first post-combustion carbon capture and storage system onboard such a facility at pilot scale."This new milestone that we have recorded in the Agogo Project reinforces our certainty that we have made the right investment in technological innovation and the valorisation of Angola's natural resources... it demonstrates a strong investment in national human capital, with 80% of the workforce comprised of Angolans", declared the Chairman of the Board of Directors of ANPG, Paulino Jerónimo."The startup of the Agogo IWH project, sanctioned just months after Azule Energy's formation, represents a defining moment for our company," said Adriano Mongini, CEO of Azule Energy.This landmark achievement marks a dual historical milestone: it's the first oil from a new FPSO in Angola since ANPG was established as the new National Concessionaire in 2019, and it's also Azule Energy's first major project to come online since the joint venture was established in 2022.About Azule EnergyAzule Energy has a daily production above 200,000 barrels of oil. In Namibia, Azule holds a 42.5% stake in Block 2914A (PEL85).Azule Energy: Corporate communications | +244 923184155 | media@azuleenergy.com