Yinson Production has officially named the Agogo floating production, storage, and offloading (FPSO) vessel at a ceremony held at Cosco Shipping Heavy Industry Shipyard in Shanghai, China. The vessel is now preparing to set sail for Angola, where it is planned to operate in the Agogo Integrated West Hub Development Project in Block 15/06 offshore Angola for Azule Energy under a 15-year firm charter with the option to extend for another 5 years and a total contract value of up to approximately $5.3 billion.
The ceremony took place on 20 February and was attended by industry leaders, key stakeholders, and government representatives.
“The successful and safe early delivery of the Agogo FPSO is a testament to the dedication and collaboration of our teams and partners,” said Per Dyberg, Agogo FPSO’s project director. “This has been an incredible journey, requiring engineering expertise and operational excellence.”
Awarded to Yinson Production by Azule Energy in February 2023, the 330-m Agogo FPSO features carbon-reduction technologies alongside its daily oil production capacity of up to 120,000 bbl. The carbon-reduction technologies include a closed flare system, hydrocarbon blanketing, combined cycle technology, automated process controls, and all-electric drive systems, as well as the first pilot of a postcombustion carbon-capture system on an FPSO. The carbon-reducing technologies onboard the FPSO are expected to reduce carbon emissions by up to 27%.
“Featuring a full suite of technologies to reduce carbon emissions, including carbon capture technology, the Agogo FPSO is a true gamechanger in the industry and underscores our commitment to reducing the environmental footprint of our operations,” said Flemming Grønnegaard, Yinson Production’s CEO. “With a wealth of experience operating offshore assets to the highest standards in Africa since 1995, Angola is a new addition to our operations, and we look forward to contributing to Angola’s energy security. I extend my gratitude to Azule Energy and all stakeholders for their trust and support, as we remain committed to achieving first oil on schedule.”