Eni, through Azule Energy, announces the Final Investment Decision (FID) for the Greater PAJ Project, a major offshore oil development located in Blocks 31 and 31/21 offshore Angola. The project is operated by Azule Energy, the company equally owned by Eni and bp, and participated by Sonangol E&P and Equinor.

Greater PAJ is Angola’s first integrated cross-block development, representing a coordinated approach to developing hydrocarbon resources across two adjacent concessions. The project reinforces Angola’s strategy to promote efficient resource management, optimize infrastructure and sustain oil production. With first oil expected in less than 3 years, in the first half of 2029, the project brings together five offshore fields across the two blocks - Palas, Astraea and Juno in Block 31 and Urano and Dione in Block 31/21.

The overall development concept consists of 17 wells connected to a new Floating Production, Storage and Offloading vessel (FPSO) with a nameplate capacity of 95,000 barrels of oil per day and a gas export capacity of 70 million standard cubic feet of gas per day, which will be delivered to Angola LNG (ALNG) plant via a new gas export line that will be tied-in to the existing Block 31 gas export network.

Eni has been present in Angola since 1980, with a current equity production of around 115,000 barrels of oil per day. The company operates in the country through Azule Energy, a company equally owned by Eni and bp and focused on upstream activities, while Eni Natural Energies is active with a portfolio of decarbonization projects.

About Eni

Eni is a global energy tech company operating in 64 Countries, with about 32,500 employees. Originally an oil & gas company, it has evolved into an integrated energy company, playing a key role in ensuring energy security and leading the energy transition. Eni's goal is to achieve carbon neutrality by 2050 through the decarbonization of its processes and of the products it sells to its customers.
In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy. Renewable energy sources, bio-refining, carbon capture and storage are only some examples of Eni's areas of activity and research. In addition, the company is exploring game-changing technologies such as fusion energy - a technology based on the physical processes that power stars and that could generate safe, virtually limitless energy with zero emissions.

About Azule Energy

Azule Energy has a daily production above 200,000 barrels of oil. The company supports Angola in developing its energy sector and its transition to cleaner sources. Azule prioritizes sustainability, innovation, and growth, believing that investing in oïl and gas, alongside decarbonization technologies and renewable energies, can make Angola's energy system more resilient and reliable. In Namibia, Azule holds a 42.5% stake in Block 2914A (PEL85) and collaborates closely with partners to explore and develop resources in the prospective Orange Basin.