Yinson Production names FPSO Atlanta with first oil expected in Q2 2024
(WO) – Yinson Production has officially named its latest addition to the fleet, FPSO Atlanta, during a grand naming ceremony held at Drydocks World in Dubai, UAE on Dec. 13, 2023.
FPSO Atlanta has a production capacity of 50,000 bopd and a maximum offloading storage capacity of 1,251,000 bbl. It will feature an efficient carbon management process plant, which utilizes fuel gas for cargo tank inertization that will significantly reduce flare gas emissions through a closed flare system. The plant introduced is a part of Yinson Production’s continuous sustainability efforts in reducing carbon emissions and being the frontrunner in decarbonizing the FPSO industry towards the goal of net zero.
Yinson Production and Enauta entered into a letter of intent with regard to FPSO Atlanta in December 2021 and subsequently signed firm contracts for the engineering, procurement, construction, and installation, the operation and maintenance of initially 2 years, and a purchase option for Yinson Production in February 2022. In July 2023, Yinson Production exercised its option to purchase FPSO Atlanta with a 15-years firm (plus a 5-years extension option) contract for the provision, operation and maintenance with a total contract value of up to $1,981 million as well as a project financing in the amount of $400 million.
The engineering, procurement, construction, and installation of the FPSO Atlanta is steadily progressing, with the vessel expected to sail away from the shipyard in the first quarter of 2024 and achieve first oil in the second quarter 2024. Upon completion, the asset will be deployed at the Atlanta Field located in the Santos basin, offshore Brazil.
FPSO Atlanta will be the second of three FPSO vessels assets that Yinson Production will deploy in Brazil. Yinson Production’s third asset for Brazil is currently under construction in China and is expected to set sail to the Jubarte Field in the first half of 2024.
Yinson Production’s Project Manager for FPSO Atlanta Mr. Scott Bendiksen said, “We are proud to have maintained zero loss time incidents after nearly 7 million manhours for FPSO Atlanta. We remain committed to the highest HSE standards and will ensure the project's progress is on track in anticipation of its sail away to Brazil. The collaboration with Enauta has been a fruitful venture, further solidifying Yinson Production’s strong presence in the region.”
Enauta Energia S.A. Chief Executive Officer Mr. Décio Oddone said, “Phase 1 of Atlanta is moving quickly to reach the first oil in 2024. The adaptation of the FPSO is an important milestone for Enauta. To achieve this goal, we have already carried out several activities. The Full Field Development System positions Enauta as a pioneer among independents in executing a deepwater project. FPSO Atlanta has many engineering solutions and innovations to reduce the emissions intensity. The project demonstrates how the oil and gas industry can act positively within its operational limits, with responsibility, safety and efficiency.”
