BP, Eni Clinch Deal to Merge Oil and Gas Operations in Angola

The merger between Eni and BP will create a company called Azule Energy that is expected to be Angola’s largest producer with stakes in 16 licenses and in the Angola LNG joint venture.

Ron Bousso and Stephen Jewkes, Reuters

Eni SpA and BP Plc have completed a deal to merge their oil and gas operations in Angola, the groups said on March 11, confirming what sources earlier exclusively told Reuters.

The deal will create a company called Azule Energy that is expected to be Angola’s largest producer with stakes in 16 licenses and in the Angola LNG joint venture.

Azule Energy will also take over Eni’s stake in Solenova, a solar company jointly held with Angola’s Sonangol.

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