Offshore staff
SINGAPORE — Yinson Production has tied up a limited recourse term loan facility of up to $1.3 billion for pre- and post-delivery financing of the Agogo FPSO, which will work for Azule Energy in Block 15/06 offshore Angola.
Thirteen lenders, including international banks and institutional investors, will provide the money during the course of the FPSO’s construction. Standard Chartered Bank (Singapore) acted as global coordinating bank for the financing.
Yinson has a contract to supply, operate and maintain the FPSO for Azule Energy over a 15-year period, extendable by up to five years. The total value could reach $5.7 billion.
The platform, with a production capacity of 120,000 bbl/d of oil, will be located at the West Hub in the block. Its carbon emission reduction technologies, including what Yinson claims will be the first carbon capture technology onboard an FPSO, should cut emissions by 27% compared to a conventional design, the company said.
Other contributing features are a closed flare system, hydrocarbon blanketing, combined cycle technology, automated process controls, and all-electric drives systems.
05.02.2024
