Equinor Joins $5.1bn Angola Offshore Project with 95,000 BPD Capacity
EQNR•Azule Energy, Sonangol E&P and Equinor approved a $5.1bn final investment decision for the Greater PAJ offshore Angola project, targeting 252 million barrels across Blocks 31 and 31/21 with 95,000 barrels per day capacity. First oil is scheduled for H1 2029 from 17 wells tied to a new FPSO.
1. Final Investment Decision
Azule Energy, Sonangol E&P and Equinor have jointly sanctioned the $5.1bn Greater PAJ offshore project after taking the final investment decision. This marks Angola’s first integrated cross-block development spanning Blocks 31 and 31/21 and underscores collaboration among the three partners.
2. Reserves and Production Timeline
The Greater PAJ project encompasses estimated recoverable reserves of 252 million barrels, with production slated to begin in H1 2029. Operations will draw from five fields—Palas, Astraea, Juno, Urano and Dione—via 17 wells connected to a new FPSO designed for 95,000 barrels per day.
3. Major Contract Awards
Six critical contracts were signed at FID, including a FPSO award to CIMC Raffles and a $1bn deal with Saipem for 180km of rigid pipelines and subsea facilities. Additional contracts cover subsea production systems by Baker Hughes, umbilicals from OneSubsea, rigid pipes from Vallourec and flexible flowlines by TechnipFMC.
4. Equinor's Role and Strategic Impact
Equinor, as a partner in Azule Energy, secures a stake in one of Angola’s largest offshore ventures, enhancing its long-term production profile. The project’s emphasis on local content—1.8 million man-hours—and integrated development aligns with Equinor’s strategy to expand high-value deepwater assets.
