What is the Greater PAJ project and who is developing it?

The Greater PAJ project is a major deepwater oil and gas development located offshore Angola. It is being executed by Azule Energy, which is a highly integrated 50/50 joint venture established by energy majors BP and Eni to manage their combined Angolan assets.

How will the produced natural gas be utilized?

Unlike older West African offshore projects that flared associated gas, the Greater PAJ project will export up to 70 million cubic feet of gas per day. This gas will be transported via pipeline to the onshore Angola LNG processing plant in Soyo, helping to meet international demand for liquefied natural gas.

Why is this project significant for the African energy sector?

This development is crucial because it demonstrates that mature provinces like offshore Angola can still attract multi-billion-dollar investments when operators pool resources. It also highlights a regional transition toward zero-routine-flaring policies by actively commercializing offshore natural gas alongside crude oil.

Rigzone · June 23, 2026 (Jun 23) · 1 min read

BP, Eni Greenlight Cross-Block Project offshore Angola

ENI S.p.A.

Analysis

AI-assisted analysis · reviewed by Yuri Kan

The formal greenlighting of the Greater PAJ project offshore Angola by Azule Energy—the BP-Eni joint venture—marks a significant milestone in revitalizing West Africa's deepwater hydrocarbon sector. By utilizing a new Floating Production, Storage, and Offloading (FPSO) vessel, the project strategically targets both oil monetization and gas commercialization. This development underscores a growing industry trend of optimizing mature basins through joint venture consolidation and integrated gas-to-export infrastructure.

Key Facts

Azule Energy, a 50/50 joint venture between BP and Eni, has officially greenlit the Greater PAJ oil and gas project located offshore Angola.
The development will deploy a newly built or converted Floating Production, Storage, and Offloading (FPSO) vessel to support operations.
The FPSO is designed with a nameplate crude oil production capacity of 95,000 barrels per day.
The project features a substantial gas export capacity of 70 million cubic feet per day.
Associated natural gas from the Greater PAJ fields will be piped directly to the onshore Angola LNG terminal at Soyo to support global LNG supply.

Background & Context

Angola, once Africa's largest crude producer, has faced steep production declines in recent years due to maturing fields and a lack of investment in deepwater exploration. To combat this, BP and Eni merged their Angolan portfolios in 2022 to form Azule Energy, creating the country's largest independent producer. The Greater PAJ project represents one of the first major coordinated developments under this consolidated corporate structure, aiming to unlock cross-block synergies that were previously economically unviable for either operator alone.

Market Impact

This project significantly bolsters Angola's efforts to arrest its domestic oil production decline, injecting 95,000 barrels per day of high-value medium sweet crude into global markets. Strategically, the commitment to export 70 million cubic feet of gas per day to Angola LNG highlights the industry's shift away from gas flaring toward commercialization, providing crucial feedstock to a facility that has frequently operated below capacity. For international oil companies, the successful sanctioning of Greater PAJ validates the mega-joint-venture model as an effective vehicle for cost reduction and project execution in complex deepwater environments.

What to Watch

Following the final investment decision (FID), the immediate focus shifts to the engineering, procurement, and construction (EPC) contracts for the FPSO and subsea production systems. Industry observers will monitor the shipyard selection and conversion timeline, with first oil tentatively targeted for the late 2020s. Additionally, the project's progress will serve as a bellwether for future deepwater investments in the Lower Congo Basin.

Frequently Asked Questions

What is the Greater PAJ project and who is developing it?: The Greater PAJ project is a major deepwater oil and gas development located offshore Angola. It is being executed by Azule Energy, which is a highly integrated 50/50 joint venture established by energy majors BP and Eni to manage their combined Angolan assets.
How will the produced natural gas be utilized?: Unlike older West African offshore projects that flared associated gas, the Greater PAJ project will export up to 70 million cubic feet of gas per day. This gas will be transported via pipeline to the onshore Angola LNG processing plant in Soyo, helping to meet international demand for liquefied natural gas.
Why is this project significant for the African energy sector?: This development is crucial because it demonstrates that mature provinces like offshore Angola can still attract multi-billion-dollar investments when operators pool resources. It also highlights a regional transition toward zero-routine-flaring policies by actively commercializing offshore natural gas alongside crude oil.

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