Singapore-based Yinson Productions Acquires FPSO Atlanta Project Loan
Singapore-based floater owner and operator Yinson Production has successfully acquired the project loan associated with FPSO Atlanta from Brazilian oil and gas company Brava Energia. The transaction marks a significant development in the company’s strategic investments.
Upon the completion of the deal, the outstanding principal amount under the project loan stood at approximately $408.8 million. Yinson Productions opted to settle the loan by paying a total cash consideration of around $255.5 million, in addition to approximately $1.9 million in accrued interest.
Financing for the transaction was sourced from the company’s cash reserves, and Yinson Production plans to secure new debt financing for the FPSO in the near future to support its operations and expansion plans.
The acquisition of FPSO Atlanta by Yinson Production was facilitated through the exercise of a purchase option in 2023, with part of the funding provided through the project loan extended by Brava Energia.
Under a 15-year firm contract with a five-year extension option, FPSO Atlanta is currently deployed by Brava Energia and achieved its first oil milestone on December 31, 2024. The remaining total contract value for FPSO Atlanta stands at approximately $2 billion, highlighting the long-term revenue potential for Yinson Productions.