Yinson Production Launches First Carbon Capture FPSO in Angola

Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, held a naming and sail-away ceremony for the FPSO Agogo, equipped with a post-combustion carbon capture pilot system, destined to operate off the coast of Angola. This marks a significant milestone in the industry’s efforts to decarbonize operations.

After winning a $5.3 billion contract for the FPSO Agogo in February 2023 from Azule Energy, a joint venture between BP and Eni, Yinson Production secured a $1.3 billion term loan facility in May 2024 for the financing of the unit’s deployment offshore Angola for a 15-year contract period, with additional optional extensions.

Game-Changing Technology

The FPSO Agogo was designed with a full suite of carbon emission reduction technologies and was named at a ceremony in Shanghai, China, before setting sail to Angola for deployment in the Agogo Integrated West Hub development project in Block 15/06 offshore Angola. Flemming Grønnegaard, Yinson Production’s CEO, highlighted the environmental impact of the FPSO, stating that the vessel is a game-changer in the industry’s efforts to reduce carbon emissions.

With a production capacity of 120,000 barrels of oil per day, the FPSO Agogo features cutting-edge carbon reduction technologies, including a post-combustion carbon capture system, which is a first for an FPSO. Yinson Production aims to achieve carbon neutrality by 2030 and net zero by 2050, with the carbon-reducing technologies onboard expected to reduce emissions by up to 27%.

Project Execution and Future Prospects

Adriano Mongini, Azule Energy’s CEO, praised the early completion of the FPSO Agogo and highlighted the project’s significance in maximizing reserves in Block 15/06 offshore Angola. The FPSO Agogo is expected to contribute to Angola’s energy security, with estimated reserves of around one billion barrels.

The ceremony was attended by key stakeholders, including Angola’s Secretary of State for Petroleum and Gas, José Alexandre Barroso, and other industry representatives. The event marked a significant milestone in Yinson Production’s journey towards decarbonization and operational excellence.

Acquisition of Stella Maris CCS Business

Following the FPSO naming ceremony, Yinson Production further strengthened its decarbonization efforts by acquiring the Norway-based Stella Maris CCS business, underscoring the company’s commitment to sustainability and environmental stewardship.

Overall, the launch of the FPSO Agogo with carbon capture technology represents a significant step forward in the industry’s efforts to reduce carbon emissions and transition towards a more sustainable energy future.