A long-stalled offshore oil project in Angola is being revived as Azule Energy, the Eni-BP joint venture, finalizes plans to award a major floating production, storage and offloading (FPSO) contract for the Palas-Astraea-Juno (PAJ) complex in Block 31. This landmark FPSO award to a leading Chinese shipyard marks a turning point for Angola’s deepwater sector, unlocking a project that had been delayed for years due to cost and market challenges and positioning it for first oil after the vessel’s expected 2028 delivery.
The PAJ development is designed to tie back multiple discoveries within Block 31, one of Angola’s most prolific deepwater assets. Once operational, the FPSO will process and export crude from the complex, supporting Angola’s broader objective of stabilising offshore production and extending the life of mature assets through brownfield and phased developments.
Industry sources note that the FPSO award reflects improving project economics amid more favourable market conditions, cost optimisation strategies, and renewed confidence in Angola’s offshore investment environment. The selection of a Chinese shipyard aligns with a growing trend among operators to leverage competitive fabrication capabilities and streamlined delivery timelines for large-scale offshore infrastructure.
The revival of Block 31 also underscores Azule Energy’s strategy of prioritising capital-efficient developments within its Angolan portfolio. By advancing the PAJ project, the company is reinforcing its long-term commitment to Angola while supporting national efforts to sustain output levels as legacy fields mature.
For Angola, the restart of the Block 31 development carries broader implications beyond production volumes. The project is expected to generate local content opportunities, strengthen offshore service activity, and contribute to government revenues over the life of the field. It also signals continued momentum in deepwater investment following recent upstream reforms aimed at improving project approvals and fiscal competitiveness.
As Angola seeks to maintain its position as one of Africa’s leading oil producers, developments such as the PAJ FPSO award highlight the role of targeted offshore investments in unlocking stranded resources and revitalising complex deepwater projects. With first oil targeted after 2028, Block 31 is now firmly back on the country’s offshore development roadmap.
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