Chinese shipyard CIMC Raffles has signed an EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) contract for the Greater PAJ FPSO project, led by Azule Energy offshore Angola, according to Splash247. The floating production, storage, and offloading (FPSO) unit will process oil and gas and is a key component of a $5.1 billion development.
Project Overview
The Greater PAJ FPSO will handle oil and gas reception, processing, storage, and offloading. Splash247 reported that the unit will have a production capacity of up to 95,000 barrels of oil per day and a gas export capacity of 70 million cubic feet per day. The gas will be delivered to the ALNG plant. The project is located approximately 200 km off the coast of Angola.
The development brings together five offshore fields across two blocks: Pala, Astraea, Juno, Urano, and Dione. The overall concept involves 17 wells connected to the FPSO.
Supply Chain Involvement
Under the contract, CIMC Raffles will undertake the full EPCIC scope, including FEED (Front End Engineering Design), basic and detailed design, procurement of materials and equipment, construction, towage, offshore installation, and commissioning. Splash247 quoted CIMC Raffles stating: “The signing of the EPCIC project fully demonstrates the recognition by leading international oil and gas companies of CIMC Raffles’ comprehensive strength, project execution capabilities, and track record in delivering high-end offshore oil and gas assets.”
Azule Energy, a joint venture between Eni and BP, announced the final investment decision on Monday. Two additional contracts have been awarded:
- Saipem – transportation and installation services, worth $1 billion with a duration of around 40 months. Saipem plans to deploy construction vessels FDS and Castorone for the offshore installation campaign.
- TechnipFMC – design and manufacture of flexible flowlines and risers to connect wells in water depths approaching 2,000 meters to the FPSO.
| Key Project Statistics | Value |
|---|---|
| FPSO oil capacity | 95,000 bpd |
| Gas export capacity | 70 million cf/d |
| Number of wells | 17 |
| Water depth (flowlines) | ~2,000 m |
| Distance from coast | 200 km |
| Total investment | $5.1 billion |
| First oil target | H1 2029 |
Timeline and Next Steps
First oil is expected in the first half of 2029, according to Splash247. The EPCIC contract covers the full project lifecycle from design through commissioning. The involvement of major service companies like Saipem and TechnipFMC underscores the scale of the development.
For commodity traders and energy analysts, the Greater PAJ project adds a significant new source of crude oil supply to the Atlantic Basin starting late this decade. Angola, an OPEC member, will see its production capacity boosted by nearly 100,000 bpd from this single FPSO. The project also highlights ongoing investment in West African deepwater oil, despite global energy transition pressures. Key upcoming milestones include FEED completion, material procurement, and construction milestones over the next several years.
Sources:
