Azule Energy Announces Gas Discovery at Gajajeira-01 Well Offshore Angola – Block 1/14

PRESS RELEASEAzule Energy Announces Gas Discovery at Gajajeira-01 Well Offshore Angola – Block 1/14Luanda, 11 July 2025 – The National Agency of Petroleum, Gas and Biofuels (ANPG) and the Contractor Group of Block 1/14, operated by Azule Energy (35%) in partnership with Equinor (30%), Sonangol E&P (25%), and Acrep S.A. (10%), are pleased to announce a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola.The well was spudded on 1 April 2025 in a water depth of 95 metres, approximately 60 kilometres off the coast. It encountered gas- and condensate-bearing sandstones in one of the Lower Oligocene targets, designated LO100.Initial assessments suggest that gas volumes on site may exceed 1 trillion cubic feet, with up to 100 million barrels of associated condensate.Paulino Jerónimo, Chairman of the Board of Directors of ANPG, stated: "These new discoveries are a motivating factor in our ongoing efforts to attract private investment in the sector for the development and monetisation of natural gas."Adriano Mongini, CEO of Azule Energy, commented: "This is a landmark moment for gas exploration in Angola. Gajajeira-01 is the country's first dedicated gas exploration well, and its success reinforces our confidence in the potential of the Lower Congo Basin."Drilling operations are ongoing, with the next target being the last Lower Oligocene interval LO300.About Azule EnergyAzule Energy is an incorporated joint venture (IJV) equally owned by BP p.l.c. and Eni SpA. Producing over 200,000 barrels of oil equivalent per day.Corporate Communications(+244) 923 184 155media@azule-energy.comwww.azule-energy.com