Azule Energy begins operations. Eni press release.

Azule Energy, Angola's new largest independent oil and gas producer, begins operations- Formation of joint venture, owned 50:50 by bp and Eni, complete- Combines both companies' Angolan upstream, LNG and solar businessesSan Donato Milanese (Milan), 2 August 2022 - bp and Eni are pleased to confirm that Azule Energy, the new 50/50 independent joint venture combining the two companies' Angolan businesses, has been officially established.Azule Energy is now Angola's largest independent equity producer of oil and gas, holding 2 billion barrels equivalent of net resources and growing to about 250,000 barrels equivalent a day (boe/d) of equity oil and gas production over the next 5 years.Bernard Looney, bp's chief executive, said: "The formation of Azule Energy is an important step for bp, Eni and Angola."Claudio Descalzi, CEO of Eni, said: "This is an important milestone for Eni, marking a step forward in Eni's strategy of enhancing all our best assets."Adriano Mongini, CEO of Azule Energy, said: "I feel honored to be the first CEO of the company."Company Contacts:Press Office: Tel. +39.0252031875 – +39.0659822030ufficio.stampa@eni.comWeb site: www.eni.com[This is Eni's own version of the joint press release announcing Azule Energy's launch; see also the parallel bp-issued version of the same announcement, dated the same day on this listing page.]