ANPG, Azule Energy and Blocks 31 and 31/21 partners reach Final Investment Decision on Greater PAJ Project offshore Angola

PRESS RELEASEANPG, Azule Energy and Blocks 31 and 31/21 partners reach Final Investment Decision on Greater PAJ Project offshore AngolaThe USD 5.1 Billion project introduces Angola's first integrated cross-block development.Luanda, Angola, 22 June 2026 – Angola's National Agency for Oil, Gas and Biofuels (ANPG), together with Azule Energy (Operator) and partners Sonangol E&P and Equinor, have announced the Final Investment Decision (FID) for the Greater PAJ Project, a major offshore oil development located in Blocks 31 and 31/21.Total oil reserves associated with the development are estimated at 252 million barrels (MMSTB), with approximately 143 million barrels in Block 31 and 108 million barrels in Block 31/21.The project is expected to deliver approximately 1.8 million manhours of local content, combining large-scale fabrication—over 6,500 tons of structures, piles, and risers.With first oil expected in the first half of 2029, the project brings together five offshore fields: Palas, Astraea and Juno in Block 31, and Urano and Dione in Block 31/21. The development consists of 17 wells (10 oil producers, 7 water injectors) connected to a new FPSO with nameplate capacity of 95,000 barrels of oil per day.Six main contracts were signed: FPSO contract with CIMC Raffles, Subsea Production Systems (SPS) with Baker Hughes, umbilicals with OneSubsea, risers and flowlines with TechnipFMC, rigid pipes with Vallourec, and transportation and installation with Saipem.Joseph Murphy, CEO of Azule Energy, said: "The Final Investment Decision on Greater PAJ marks an important milestone for Azule Energy and for Angola's energy sector."Block 31 is operated by Azule Energy Exploration (Angola) Limited (26.67%), with partners Sonangol E&P (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 Equinor Angola Block 31/21 AS (50%).About Azule EnergyAzule Energy, a 50:50 independent joint venture between bp and Eni, has exploration and production activities in 18 licensed blocks, with output exceeding 220,000 barrels of oil equivalent per day.Corporate Communications(+244) 921 417 873media@azule-energy.comwww.azule-energy.com