Azule Energy signs commercial agreements to start gas production

Press ReleaseAzule Energy signs commercial agreements to start gas productionA pioneering project in the Angolan gas industry. Production to start 6 months ahead of plan, with an investment of USD 2.4 billionLuanda, 22 November 2024 – The National Agency for Petroleum, Gas and Biofuels (ANPG), Azule Energy Angola B.V. (Azule Energy), as operator and partners in the New Gas Consortium (NGC) — CABGOC, Sonangol E&P, Azule Ltd and TotalEnergies — signed a Risk Service Agreement and all Auxiliary Commercial Agreements to expedite gas production in Angola.With progress approaching 50%, the project is significantly ahead of schedule with start-up potentially anticipated 6 months earlier than originally planned, to early 2026.Adriano Mongini, Azule CEO stated: "We are proud to announce this major development, which reflects our strong commitment in enhancing the country's position as a top gas producer."Azule Energy, as the operator of the NGC, together with Azule Ltd, hold a 37.4% interest. The remaining partners are CABGOC (31%), Sonangol E&P (19.8%), and TTE (11.8%).About Azule EnergyAzule Energy is an international energy company based in Angola. With a daily production of approximately 220,000 barrels of oil and over 2 billion barrels of resources.Corporate communications:(+244) 923184155email: media@azule-energy.comWeb: www.azule-energy.com