KUALA LUMPUR, May 2 (Bernama) -- Yinson Holdings Bhd’s (Yinson) Singapore unit, Yinson Production Offshore Pte Ltd, has completed its US$1.3 billion (US$1=RM4.7705) debt financing for the Agogo floating storage production and offloading vessels (FPSO).
In a statement today, Yinson said the financing was provided by a consortium of 13 lenders, including international banks and institutional investors, and will be utilised over the course of the construction of the FPSO.
Yinson Production entered into a firm contract for the provision, operation and maintenance of the Agogo FPSO with Azule Energy in February 2023, a 50:50 joint venture between BP and Eni, Angola’s largest independent oil and gas producer.
The contract has a firm operation period of 15 years, with additional optional periods of up to five years and a total contract value of up to US$ 5.7 billion.
According to Yinson, the Agogo FPSO will have a production capacity of 120,000 barrels of oil per day. Once construction is completed, the Agogo FPSO will be deployed to the Agogo Integrated West Hub Development Project located in the West Hub of Block 15/06 offshore Angola.
The Agogo FPSO, designed with a full suite of carbon emission reduction technologies, is the first-ever FPSO featuring carbon capture technology.
-- BERNAMA
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