BW Energy Eyes Azule Enegy’s Share in Block Offshore Angola

(Credit: Eni)

BW Energy has started a process to potentially acquire Azule Energy’s non-operated interests in Block 14/14K, offshore Angola.

According to BW Energy, the move is part of its continuous consideration of opportunities to acquire assets in line with its stated strategy. So far, no binding agreement has been reached, and there can be no assurance that the process will result in a transaction, the company said.

Azule Energy, a 50-50 joint venture between BP and Eni, holds 20% non-operated share in block 14, and 10% interest in block 14K.

The block 14/14K is operated by Cabinda Gulf Oil Company Limited - Chevron.

The block is located approximately 100 km offshore from Cabinda in Angola and covers around 4,094 km2.

First oil was achieved in 1999 and continues to have significant output of medium light crude oil.