Azule Energy in Angola is a joint venture between BP, Eni and a consortium of local oil and gas companies. It discovered gas during its first exploration well for gas off the coast, according to the national agency ANGP late Friday.

The Gajajeira-01, a well found in block 1/14 in the lower Congo Basin, encountered gas- and condensate bearing rock. According to preliminary estimates, gas volumes could reach 1 trillion cubic feet, and associated condensate up to 100,000,000 barrels.

In a joint press release, Azule Energy CEO Adriano Mongini said: "This is an historic moment for gas exploration"

The Gajajeira-01 is the first dedicated exploration well for gas in the country. Its success confirms our belief in the Lower Congo Basin's potential.

The block is operated jointly by Equinor (30%) and Sonangol E&P (25%) as well as privately owned Angolan Acrep S.A., which holds 10%. (Reporting and editing by Hugh Lawson; Wendell Roelf)

(source: Reuters)