Yinson Production Signs $218 Million FPSO Deal with Azule Energy

Azule Energy. Bigstock

“The APA outlines both parties’ interest in commencing preliminary work in order to meet the project schedule, while finalizing firm contract(s) for the project,” Yinson Production indicated in a statement.

With a capacity of 120,000 barrels per day, the FPSO is projected to commence operations in mid-2026, while oil reserves in place in Block 15/06 are currently estimated at 1 billion barrels. Block 15/06 currently has two producing FPSOs.

Headquartered in Malaysia, Yinson Production operates in offshore production, renewable energy, green technologies, and offshore marine, and boasts a presence in 18 countries. Meanwhile, Azule Energy is Angola’s largest independent equity oil and gas producer and a 50:50 JV between BP and Eni.

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Onur Yilmaz

Onur Yilmaz