Azule Energy announces oil discovery at Algaita-01 well offshore Angola

Azule Energy has reported a new oil discovery made in the Algaita‑01 exploration well, located in Block 15/06 in the offshore Lower Congo Basin, Angola.

The well was spudded on Jan. 10, 2026, in a water depth of 667 meters (2,188 ft), approximately 18 km from the Olombendo FPSO. It encountered oil-bearing sandstones within Upper Miocene reservoir intervals.

Drilling operations were successfully completed on Jan. 26, followed by advanced formation evaluation logs to assess reservoir quality and fluid characteristics.

The company says that preliminary interpretation of wireline logging and fluid sampling indicates the presence of multiple reservoir intervals with “excellent” petrophysical properties and fluid mobilities. Initial estimates indicate a discovered oil in place of approximately 500 million barrels.

Joe Murphy, CEO of Azule Energy, said: “The Algaita-01 results build on a long successful track record of 22 discoveries, once again confirming the exceptional effectiveness of the petroleum system in Block 15/06. The presence of multiple nearby producing facilities further enhances the value of this new exploratory success. We are proud to deliver another significant result together with our partners and to continue creating opportunities for further growth.”

Azule Energy is the operator of Block 15/06, in tandem with partners Angolan National Agency of Petroleum, Gas and Biofuels (ANPG), SSI Fifteen Limited and Sonangol E&P.

The discovery of oil with the Algaita‑01 exploration well follows the discovery of commercial amounts of gas and condensate last year by Azule Energy with its Gajajeira-01 exploration well offshore Angola in Block 1/14, in the shallow waters of the Lower Congo basin.