Azule Energy Approves $5.1 Billion Greater PAJ Oil Project in Angola
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 22 2026
0mins
Source: Newsfilter
- Project Investment Scale: Azule Energy and its partners have approved the $5.1 billion Greater PAJ offshore oil project, marking Angola's first integrated cross-block development, which is expected to significantly enhance the country's energy supply capacity.
- Estimated Oil Reserves: The total oil reserves associated with the project in Blocks 31 and 31/21 are estimated at 252 million barrels, with first oil expected in the first half of 2029, providing strong support for Angola's economic growth.
- Strategic Partnerships: Project partners include Norway's Equinor, Angola's oil and gas agency ANPG, and state-owned firm Sonangol, highlighting Angola's proactive efforts to attract foreign investment.
- Future Investment Plans: Azule plans to invest an additional $5 billion in Angola's oil and gas sector over the next few years, further solidifying its position as a major African oil producer while driving local economic development.
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Analyst Views on BKR
Wall Street analysts forecast BKR stock price to rise
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 53.250
Low
52.00
Averages
61.54
High
67.00
Current: 53.250
Low
52.00
Averages
61.54
High
67.00
About BKR
Baker Hughes Company is an energy technology company that provides solutions to energy and industrial customers worldwide. The Company's segments include Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). OFSE segment provides products and services for onshore and offshore oilfield operations across the lifecycle of a well, ranging from exploration, appraisal, and development, to production, rejuvenation, and decommissioning. OFSE segment is organized into four product lines: Well Construction; Completions, Intervention, and Measurements; Production Solutions, and Subsea. IET segment provides technology solutions and services for mechanical-drive, compression and power-generation applications across the energy industry including oil and gas, liquefied natural gas operations, downstream refining, and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors. IET segment also provides equipment, software, and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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