Save Type Surname (from location) Usage Basque Pronounced Pron. /oʊ.ˌlɑː.ˈɡi/(English) [key·simplify] Other Forms FormsOlagüe (Castilianized) Meaning & History From the name of a town and municipality in Navarre, Spain, probably derived from Basque ola meaning "forge, factory, foundry" or "hut, cabin" and the suffix -gune "place, area".