Azule Energy and its partners are moving ahead with a $5.1 billion offshore oil development in Angola, adding another major project to the company’s growing portfolio of production and gas investments in the country.
The Greater PAJ project reached a final investment decision in June. Located across Blocks 31 and 31/21, it will develop five offshore fields — Palas, Astraea and Juno in Block 31, and Urano and Dione in Block 31/21. The project is estimated to contain 252 million barrels of oil and will use a new floating production, storage and offloading vessel with a capacity of 95,000 barrels per day. First oil is expected in the first half of 2029.
Greater PAJ will involve 17 wells, including 10 oil producers and seven water injectors. The FPSO will also have capacity to export up to 70 million standard cubic feet of gas per day through a new gas export line connected to Angola LNG. Six major contracts covering the FPSO, subsea equipment, pipelines and installation have already been signed.
The project follows several recent developments by Azule in Angola. In February, the company and the National Agency for Petroleum, Gas and Biofuels announced the start-up of the Ndungu full-field development in Block 15/06. The development includes seven production wells and four injection wells and is expected to reach a peak of 60,000 barrels per day. Agogo and Ndungu together are expected to reach approximately 175,000 barrels per day at peak production.
Gas has also become part of Azule’s Angolan portfolio. In March, gas delivery from the Quiluma field began under the New Gas Consortium, with initial exports planned at 150 million standard cubic feet per day and a ramp-up to 330 million by the end of 2026. The project is Angola’s first development of non-associated gas resources.
Azule’s activity comes alongside new commitments from other international producers. TotalEnergies said in September that it and its partners plan to invest $10 billion in Angola over the next five years. The company currently produces around 450,000 barrels per day in the country, while Angola is seeking to maintain national production at about 1 million barrels per day.
The TotalEnergies program includes the $6 billion Kaminho deepwater project, which is expected to start production in 2028. The company has also entered two new offshore exploration blocks, 17/25 and 32/21, with a 40% operated interest, while announcing a new oil discovery at Acacia-5 in Block 17.
For Azule, Greater PAJ represents one of the largest investments currently advancing across its Angolan portfolio. The project is expected to begin production in 2029, while Agogo, Ndungu and the Quiluma gas development are already adding or preparing to add new output to the country's energy system.
