Azule Energy reaches FID on Angola offshore project

LUANDA, June 23, 2026 – Azule Energy, a joint venture between BP and Eni, has reached a positive FID on the Greater PAJ offshore project in Angola, the country’s first integrated development across two adjacent offshore concessions, Azule Energy announced on Monday.

The project spans Blocks 31 and 31/21 and combines five offshore fields: Palas, Astraea and Juno (PAJ) in Block 31, and Urano and Dione in Block 31/21. First oil is expected in H1 2029.

Eni said that the development plan will include 17 wells linked to a new FPSO with a nameplate capacity of 95,000 bopd and gas export capacity of approximately 2 mcm (70 mcf) of gas per day. Gas will be delivered to the Angola LNG plant through a new pipeline connected to the existing Block 31 gas export network.

Target oil reserves are estimated at 252 million barrels, of which approximately 143 million barrels are in Block 31 and 108 million barrels in Block 31/21. Greater PAJ is operated by Azule Energy, with Sonangol EP and Equinor as partners.

“The FID on Greater PAJ marks an important milestone for Azule Energy and for Angola’s energy sector. This project reflects the value of collaboration and the ability to unlock resources through integrated and efficient development solutions. 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,” said Joseph Murphy, CEO of Azule Energy.

The company also announced six main contracts for the delivery of the project. CIMC Raffles has been selected for the FPSO, Baker Hughes for the subsea production systems, OneSubsea for umbilicals, TechnipFMC for risers and flowlines, and Saipem for transportation and installation.

Azule Energy engages in E&P activities in 18 licensed blocks in Angola. The company’s production is approximately 220,000 boepd, or roughly 20% of total domestic output. Azule Energy is also present in Namibia, where it holds a 42.5% interest in Block 2914A (PEL85).

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