Yinson commences 15-year charter for Agogo FPSO offshore Angola

LUANDA, August 14, 2025 – Yinson Production has commenced the 15-year firm charter for the Agogo FPSO, the company reported on Wednesday.

The Agogo FPSO achieved first oil on July 29, 2025. The vessel is deployed to the Agogo Integrated West Hub Development Project in the West Hub of Block 15/06 offshore Angola, under a lease and operate contract with Azule Energy.

The FPSO contract includes a 15-year firm period with annual extension options of up to five years and a total value exceeding USD 5 billion. Yinson Production signed the agreement in February 2023 for the provision, operation and maintenance of the Agogo FPSO. The unit has a production capacity of 120,000 bopd and storage for 1.6 million barrels.

“Achieving first oil for the Agogo FPSO approximately four months ahead of schedule and 29 months after contract award is a truly remarkable milestone. This success once again highlights Yinson Production’s excellence in delivering complex projects on or even ahead of time and to the highest standards — providing our clients with certainty and creating long-term value. As our first asset in Angola, the Agogo FPSO also marks an important expansion of our footprint in Africa and will positively contribute to Angola’s economic growth,” Flemming Guiducci Grønnegaard, CEO of Yinson, said.

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