Eni and BP’s Azule Energy joint venture (JV) has declared a final investment decision (FID) on its $5.1 billion Greater PAJ Project, an ultradeepwater greenfield oil development located in Blocks 31 and 31/21 offshore Angola, advancing a unique cross-block development plan.
After having grown into Angola’s largest independent oil and gas producer since Eni and BP merged their Angolan businesses to form the JV in 2022, Azule Energy operates Greater PAJ alongside participating partners Equinor, Sonangol E&P, and Angola's National Agency for Oil, Gas, and Biofuels.
The development is considered as one of the most significant ultradeepwater developments in sub-Saharan Africa due to several factors: its cross-block development plan—the first of its kind in Angola; the reservoir’s size (estimated by Eni at 252 million bbl), and the challenging operating conditions, with subsea work taking place in water depths around 2,000 m.
Adding Strength to Strength
It also stands as one of Azule’s key assets alongside its deepwater counterpart, the Agogo Integrated West Hub (Agogo IWH) project in Block 15/06 of the lower Congo Basin, currently Angola’s largest active project since production began in August 2025.
Together, Greater PAJ and Agogo IWH represent a capital expenditure exceeding $13 billion that is intended to open nearly 220,000 B/D of new oil production capacity before 2030, according to Azule.
“The final investment decision on Greater PAJ marks an important milestone for Azule Energy and for Angola’s energy sector,” Joseph Murphy, CEO of Azule Energy, said following the FID signing on 22 June at a ceremony in Luanda, Angola’s capital.
“Greater PAJ will contribute to sustaining production, creating value for the country, and reinforcing Angola’s position as a key energy supplier in the years ahead,” he added.
Sharing What Can Best Be Shared
The integrated cross-block development concept allows different stakeholders to share and utilize common facilities such as the FPSO and export systems—reducing costs and improving efficiencies, while block-specific facilities are developed independently and stakeholder autonomy is maintained.
With first oil expected in less than 3 years (1H 2029), Greater PAJ will join five offshore oil fields across two blocks—Palas, Astraea and Juno in Block 31, and Urano and Dione in Block 31/21.
The concept calls for drilling 17 wells tied back to a new 9,500 B/D FPSO, with a gas export capacity of 70 MMscf/D. Gas will be supplied to the Angola LNG plant via a new export line connected to the existing Block 31 gas export network, according to Eni.
Among the 17 wells are 10 oil producers (4 in Block 31/21) and 7 water injectors (3 in Block 31/21), Azule Energy said in a separate release.
Eni estimates oil reserves across the two adjacent blocks at 252 million bbl (MMSTB), including about 143 million bbl in Block 31 and 108 million bbl in Block 31/21.
Contractors Sign Up During FID Ceremony
Contracts signed with service and supply companies at the FID ceremony in Luanda on 22 June included:
- CIMC Raffles: Engineering, procurement, construction, installation, and commissioning to build and deliver the FPSO.
- Baker Hughes: Subsea production systems including trees and manifold systems linking the 17 wells.
- OneSubsea: Design and manufacture of umbilicals.
- TechnipFMC: Flexible flowlines and risers valued at $75–250 million.
- Vallourec: High-grade seamless steel pipes for delivery to Saipem.
- Saipem: Transport and installation services (S&I).
The scope of Saipem’s 40-month, $1 billion award covers engineering, fabrication, and S&I of 180 km of rigid pipelines and subsea facilities installed in water depths up to 2,000 m; 38 km of flexible flowlines and jumpers; and 54 km of umbilicals.
Saipem will fabricate the pipes at its Ambriz yard in Angola and deploy its construction vessels FDS and Castorone for offshore installations.
Block 31 is operated by Azule Energy Exploration (Angola) Ltd. (26.67%). Partners include Sonangol Exploração & Produção S.A. (45%), SSI Thirty-One Limited (15%), and Equinor Angola Block 31 AS (13.33%).
Block 31/21 is operated by Azule Energy Angola B.V. (50%) and partner Equinor Angola Block 31/21 AS (50%).
