Yinson to deploy FPSO off Brazil
Malaysia’s Yinson Holdings said November 15 it reached an agreement with Brazilian energy company Petrobras to deploy a floating production unit offshore Brazil in the Campos Basin.
Yinson, under the terms of letters of intent with Petrobras, will charter, operate and maintain the Integrado Parque da Baleias (IPB) floating, production, storage and offloading (FPSO) vessel at the Jubarte field in the northern waters of the Campos Basin.
Yinson estimated the value of the agreement at $5.2bn. Pending final acceptance, the contract period runs for 22.5 years.
The Malaysian company said it waded into renewables in 2019 and expected developments off Brazil to align with the energy transition.
“Yinson and Petrobras have jointly committed to implementing a low emission design into IPB FPSO towards mitigating the world’s climate change issues,” Yinson Production Offshore CEO Flemming Gronnegaard said. “Together, we are excited to pioneer some sustainable design concepts that we believe will pave the way for the industry to significantly reduce its environmental impact.”
The FPSO is slated to start operations in late 2024. Petrobras estimates the facility will be able to process 100,00 barrels of oil and 5mn m3 of natural gas/day.