Yinson Holdings has signed an exclusivity agreement with super-major BP for the reservation of an FPSO for production of the Palas, Astrea and Juno fields on Block 31 in Angola

BP selects FPSO for offshore project in Angola

LUANDA, July 28, 2022 – Yinson Holdings has signed an exclusivity agreement with super-major BP for the reservation of an FPSO for production of the Palas, Astrea and Juno fields on Block 31 in Angola, the Malaysian offshore contractor announced today.

Under the agreement, the FPSO Nganhurra will be allocated for the project until December 31, 2022, with an option to extend the reservation until June 30, 2023, while the companies negotiate a contract to convert, operate, maintain and lease the FPSO.

The prospective 10-year lease and operate contract is expected to be initiated by the end of 2024 following BP’s FID on the project.

The FPSO Nganhurra was built in 2006 by Samsung Heavy Industries and has a production capacity of 100,000 bopd.

The vessel is currently in Labuan, Malaysia.

Read our latest insights on: