Azule Energy and its partners, Sonangol E&P and Equinor, have taken the final investment decision (FID) for the Greater PAJ Project, a $5.1bn offshore oil development in Angola’s Blocks 31 and 31/21.
The initiative is Angola’s first integrated cross-block project, involving hydrocarbon extraction across two neighbouring concessions
The Greater PAJ Project covers an estimated 252 million barrels (mbbl) of oil reserves, with nearly 143mbbl in Block 31 and 108mbbl in Block 31/21. It is located nearly 200km off the Angolan coast. The project is expected to generate approximately 1.8 million man-hours of local content.
This includes the fabrication of more than 6,500t of structures, piles and risers, alongside significant assembly and support activity both onshore and offshore. Azule Energy CEO Joseph Murphy said: “The final investment decision 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.” Oil production is expected to start in the first half of 2029 (H1 2029), drawing from five offshore fields: Palas, Astraea and Juno in Block 31, and Urano and Dione in Block 31/21.