Azule Energy Signs Block 31/21 Production Sharing Agreement

PRESS RELEASEANPG AND AZULE ENERGY SIGN PRODUCTION SHARING AGREEMENT FOR BLOCK 31/21The agreement is a significant step forward in advancing exploration in the Lower Congo BasinLuanda, 30 August 2023 - The National Agency of Petroleum, Gas and Biofuels (ANPG) and Azule Energy, in partnership with Equinor, today signed a Production Sharing Agreement (PSA) for Block 31/21, resulting from the 2021/2022 Limited Offshore Licensing Round.The block, operated by Azule Energy with a 50% participating interest, occupies approximately 4,500 square kilometers in the deep waters of the basin, 170 kilometers from the coastline, with 12 discoveries and remaining exploration potential.The contract encompasses the drilling of one exploration well during the initial five-year exploration period."The signature of the PSA for Block 31/21 expands Azule's operatorship position in this proven and well-known petroleum system," said Adriano Mongini, Azule Energy CEO.For more information, please contact:Azule Energy: Carolina Barros. Email: carolina.barros@azule-energy.com