EIG acquires Brazilian FPSO player for $390 mln

BRASíLIA, December 29, 2023 – EIG has entered into definitive agreements to acquire Brazilian FPSO player Ocyan Participações for USD 390 million, the global institutional investor announced on Thursday.

The acquisition is currently owned by Brazilian conglomerate Novonor.

Ocyan is the country’s only Brazilian FPSO operator and currently operates four vessels through a 50:50 venture with global energy group Altera Infrastructure.

The deal is expected to close in Q1 2024 and is subject to closing conditions.

“Brazil is home to over 25% of the global FPSO fleets, and we believe the future market dynamics for oil and gas infrastructure in Brazil are very favourable, underscoring our dual commitment to supporting growth and development in this important region while creating value for our investors,” said R. Blair Thomas, chairman and CEO of EIG.

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