Saipem has secured a contract worth approximately $1 billion from Azule Energy, a joint venture between BP and Eni, for subsea work on the Greater PAJ project offshore Angola. This award follows Azule Energy's recent final investment decision (FID) to proceed with the deepwater development, which had been on hold for an extended period.

Project Scope and Location

The Greater PAJ project is located about 200 kilometers west of the Angolan coastline, with first oil expected in the first half of 2029. Saipem's scope of work includes engineering, fabrication, transportation, and installation of approximately 180 kilometers of rigid pipelines and subsea facilities in water depths up to 2,000 meters. Additionally, the contract covers the transportation and installation of 38 kilometers of flexible flowlines and jumpers, along with 54 kilometers of umbilicals.

Execution and Local Involvement

Saipem plans to perform fabrication work for the subsea equipment and pipelines at its Abriz fabrication yard in Angola, with the involvement of local companies and workforce. The company expects to deploy two vessels for the offshore installation work.

Production Expectations

The Greater PAJ project is anticipated to produce approximately 95,000 barrels per day of oil and handle 70 million cubic feet per day of gas. Angola is increasingly recognized as a promising greenfield offshore oil and gas region in West Africa, despite already hosting significant operations led by international oil companies.