On February 16 2026, Azule Energy — a 50:50 joint venture between BP plc and Eni SpA — confirmed a major offshore oil discovery in Block 15/06 of the Lower Congo Basin, offshore Angola, with preliminary estimates of around 500 million barrels of oil in place at the Algaita‑01 exploration well, about 18 km from the Olombendo FPSO. The announcement, supported by Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG), highlights development potential leveraging nearby infrastructure, strengthening Angola’s upstream outlook and inviting further investment.
