BP and Eni Launch Natural Gas Production in Angola
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
0mins
Source: seekingalpha
- Gas Production Commencement: BP and Eni's Azule Energy joint venture has begun natural gas production from the Quiluma field in Angola, with initial output expected to reach 150 million cubic feet per day, ramping up to 330 million cubic feet per day by the end of 2026, equivalent to approximately 2 million tons of LNG annually, significantly enhancing Angola's energy supply capacity.
- Stable Supply Source: This project marks the first development of a non-associated gas field in Angola, with the produced gas serving as a stable and crucial supply for the Angola LNG plant, catering to the demands of both European and Asian markets, thereby reinforcing Angola's position in the global energy landscape.
- New Resource Discoveries: Since the beginning of 2025, Azule Energy has announced four hydrocarbon discoveries, including the Algaita-01 and Gajajeira-01 gas finds in Angola, as well as the Volans-1X and Capricornus-1X discoveries in Namibia's Orange Basin, showcasing the resource potential in the region.
- Joint Venture Structure: Azule Energy holds a 37.4% stake in the New Gas Consortium, partnering with Cabinda Gulf Oil (31%), Sonangol E&P (19.8%), and TotalEnergies (11.8%), forming a robust collaborative network to drive project development.
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Analyst Views on BP
Wall Street analysts forecast BP stock price to rise
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 47.350
Low
6.38
Averages
84.26
High
503.69
Current: 47.350
Low
6.38
Averages
84.26
High
503.69
About BP
BP p.l.c. is a United Kingdom-based integrated energy company. Its segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. The gas & low carbon energy comprises regions with upstream businesses that predominantly produce natural gas, gas marketing and trading activities and its solar, wind and hydrogen businesses. The oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. The customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle (EV) charging, as well as Castrol, aviation and business-to-business (B2B) and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. The other businesses and corporate also comprises the Company's shipping and treasury functions, and corporate activities worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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