Angola’s push to strengthen its place among Africa’s major oil producers has received another boost after Azule Energy awarded a $1 billion contract to Italian contractor Saipem for work on the Greater PAJ project.
Italian energy services firm Saipem has secured a $1 billion contract to build offshore infrastructure for Angola’s $5.1 billion Greater PAJ oil project, supporting the country’s push to sustain crude production and attract fresh deepwater investment.
The contract was awarded by Azule Energy Exploration (Angola) Limited and Azule Energy Angola B.V., subsidiaries of Azule Energy, the joint venture owned equally by Italy’s Eni and Britain’s bp.
The project is located about 200 kilometres off Angola’s coast and will run for about 40 months.
Under the deal, Saipem will provide transportation and installation services for one of the most significant ultra-deepwater projects in sub-Saharan Africa.
