Azule Energy, a joint venture between Eni and BP, reached a final investment decision for the Greater PAJ project. Company and government officials announced the approval at a signing ceremony in Luanda.
The offshore oil development is located in Angola’s deepwater Lower Congo Basin. This initiative marks the country’s first integrated cross-block development.
The project connects production from Block 31 with discoveries in Block 31/21. Azule Energy operates both blocks.
The company holds a 50% stake in Block 31/21 alongside Norway's Equinor. The development plan requires a new Floating Production, Storage, and Offloading (FPSO) vessel.
Azule Energy is currently Angola’s largest independent oil and gas producer. This investment aims to sustain the country’s total crude output.