Yinson Acquires FPSO Atlanta From Enauta, Vessel To Operate In The Atlanta Field In The Santos Basin

Written by Roberta Souza

Published on 02/08/2023 at 21:12

Foto: reprodução Enauta

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The FPSO Acquired by Yinson Will Be Located in the Santos Basin and Its Operator Was the Giant Enauta

Yinson, a global leader in FPSO (Floating Production Storage and Offloading) services, has completed the purchase of the FPSO Atlanta from Enauta. This vessel has a processing capacity of 50,000 barrels of oil and 140,000 barrels of water per day, in addition to generating 20 MW of electricity and storing up to 1.6 million barrels of oil, according to the PetroNotícias website.

The FPSO will be installed in the Atlanta Field, located in the Santos Basin, with Enauta as the responsible operator. The forecast is that the FPSO will start producing in the second half of 2024, through six wells.

The letter of intent for the conversion of the FPSO OSX-2 into FPSO Atlanta was signed in December 2021 by Enauta and Yinson. Since then, Yinson has had the option to acquire the unit through financing. With the effective completion of the deal, Yinson acquired all the shares of AFPS B.V., a subsidiary of Enauta that holds the platform. The total value of the transaction was US$ 465 million, with US$ 86 million paid in cash and deferred payments related to the EPCI contract (Engineering, Procurement, Construction, and Installation), plus US$ 379 million in financing granted to Yinson for 15 years.

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New FPSO Contracts

The acquisition of the vessel also implies the start of the chartering, operation, and maintenance contracts for the FPSO by Yinson, lasting 15 years, with the possibility of extending for another five years. The contract totals US$ 2 billion, valid for 20 years from the start of the platform’s production.

The completion of this transaction is considered an important milestone for Enauta, reducing the risks associated with the development of the Atlanta Field and reinforcing the proximity of the completion of FPSO Atlanta within the expected timelines and budgets. Yinson’s acquisition of the FPSO will also result in a reduction of Enauta’s net outlays of about US$ 100 million until the platform’s completion.

With the completion of the acquisition, Yinson strengthens its position in the FPSO market and expands its operations in the oil and gas sector in Brazil. The FPSO Atlanta will play a fundamental role in oil production in the Atlanta Field, contributing to the growth and efficiency of the country’s energy sector.

Yinson Acquires FPSO Atlanta From Enauta, Vessel To Operate In The Atlanta Field In The Santos Basin

The FPSO Acquired by Yinson Will Be Located in the Santos Basin and Its Operator Was the Giant Enauta

New FPSO Contracts

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Yinson Acquires FPSO Atlanta From Enauta, Vessel To Operate In The Atlanta Field In The Santos Basin

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