CEO Adriano Mongini to Lead Azule Energy Delegation to AEW 2023 to Discuss Angolan Exploration, Sustainable Investments

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  • CEO Adriano Mongini to Lead Azule Energy Delegation to AEW 2023 to Discuss Angolan Exploration, Sustainable Investments

Adriano Mongini will lead a delegation from Azule Energy to AEW 2023, where the executive will provide insight into the company’s ongoing and upcoming projects in Angola, making a strong case for independent-led oil and gas developments in Africa.

Angola’s largest independent equity producer of oil and gas Azule Energy has made considerable progress in expanding exploration and production efforts in Angola’s energy sector. A joint venture between global energy majors bp and Eni, the company leverages the expertise of these players to drive a series of sustainable hydrocarbon initiatives in the country. During the African Energy Week (AEW) conference – scheduled for October 16-20 at the Cape Town International Convention Center – the company’s CEO Adriano Mongini will provide insight into these developments while promoting opportunities for independents in Angola’s oil sector. Mongini will lead a delegation from the company to Cape Town to engage in various panel discussions centered around Angolan exploration and sustainable investment opportunities.

With oil and gas contributing a large portion of the country’s GDP, Angola has prioritized the adoption of sustainable operational practices in line with efforts to scale-up energy security alongside industry decarbonization. Companies such as Azule Energy play a key part in integrating technological innovations with oil and gas processes while developing clean energy sources such as natural gas.

Currently, 15% of Azule Energy’s equity hydrocarbon production comes from gas. The company considers gas to be a bridge fuel for the energy transition and a major driver of Angola’s economic diversification, and as such, is spearheading several project developments across the country. Through the New Gas Consortium (NGC) – an incorporated joint venture comprising Azule Energy (operator) Sonangol P&P, Chevron and TotalEnergies – Azule Energy is developing and producing non-associated gas located in Angola’s offshore fields. Gas produced offshore is used to supply the Angola Liquefied Natural Gas (LNG) facility – of which Azule Energy has a 27.2% stake -, positioning the country as a competitive LNG exporter. Under the first phase of the NGC project, gas will be extracted from the Quiluma and Maboqueiro shallow fields. In 2022, the NGC reached a final investment decision for the fields, with first gas planned for 2026.

Alongside its gas projects, Azule Energy is developing the Caraculo solar photovoltaic plant in collaboration with National Oil Company Sonangol. The project has a capacity of 50 MW and aims to reduce diesel consumption for electricity generation, advancing energy access and diversification in the country. The project is a testament to the role independent oil and gas companies play in advancing the uptake of renewables, and during AEW 2023, Mongini will discuss the evolving role companies such as Azule Energy play in Africa’s future energy mix.

An engineer by profession with over 32 years’ experience in the oil and gas industry, Mongini’s experience serves as instrumental to both Azule Energy and the Angolan energy sector at large. With a commitment to developing and monetizing hydrocarbons for the good of Africa, Mongini promotes partnerships and joint ventures as a tool for driving long-term and sustainable oil and gas developments. In Angola, this approach has been highly successful, contributing to the country’s standing as one of the biggest oil producers in Africa.

Azule Energy, for its part, is driving several oil-focused projects in the country. Currently, the company holds stakes in 20 blocks, directly operating eight of these assets. Last year, oil and condensates accounted for 85% of the company’s total hydrocarbon production, with output set to grow over the next five years, measuring 250,000 barrels per day (bpd) between 2023 and 2026. Additionally, the company operates four floating production, storage and offloading vessels, each with a capacity to produce 1.75 million bpd.

As the Angolan government makes strides towards positioning the country as a regional energy hub, efforts by Azule Energy will be central to achieving this objective. Both Mongini’s and the wider Azule Energy delegation’s participation and contribution in panel discussions at AEW 2023 will not only further an understanding of Angola’s energy aspirations but provide insight into potential investment and collaboration opportunities.

“Angola’s oil and gas resources offer neighboring countries the chance to alleviate energy poverty on the back of intra-African energy trade. Companies such as Azule Energy continue to make great strides towards making this happen, and the company’s projects and investments have been instrumental in advancing energy security and facilitating the energy transition in Angola,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC).

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