Azule Makes 500 Million-Barrel Oil Find in Offshore Angola

The Eni/BP venture Azule Energy and its partners have discovered an offshore well that may hold 500 million barrels of crude, a potential boost to Angola’s efforts to slow declining output.

The find was made at the Algaita-01 exploration well in Block 15/06 off Angola, the National Oil, Gas and Biofuels Agency, known as ANPG, said in a statement on Friday.