On February 20, the world’s first Agogo FPSO (floating production storage and offloading unit) equipped with an offshore carbon capture and storage (CCS) device was successfully named at the COSCO Shipping Heavy Industry (Shanghai) Terminal located on Changxing Island, an offshore equipment island in Shanghai. This project is the world’s first offshore FPSO with post-combustion carbon capture function, a leading technology project in the global FPSO industry, and one of the most environmentally friendly FPSOs in the world.
Agogo FPSO is a large FPSO converted by Malaysia’s Yinson Company for Azule Energy, Angola’s largest independent oil and gas producer (a joint venture between Italy’s Eni S.p.A and Britain’s BP p.l.c, each holding 50%).
The second phase of life extension and conversion of Agogo FPSO project was undertaken by COSCO Shipping Heavy Industry (Shanghai), a subsidiary of China COSCO Shipping Group Co. It is 333 meters long and 60 meters wide. The Agogo FPSO will serve in the West Hub section of Block 15/06 in Angola in 2025, about 180 kilometers from the coast, with an operating water depth of 1,650 meters. It is scheduled to be put into production in 2025, producing 120,000 barrels of oil per day and an oil storage capacity of 1.6 million barrels.
This FPSO incorporates advanced carbon reduction technologies and is the world’s first FPSO equipped with an offshore post-combustion carbon capture and storage (CCS) system. By capturing carbon dioxide from the exhaust gases of the ship’s gas turbines, it significantly reduces greenhouse gas emissions. According to the shipowner, the installation of this system can cut carbon emissions by approximately 27%, marking an important milestone toward achieving the concept of a zero-carbon FPSO. This initiative aims to reduce the carbon footprint and pave the way for decarbonization in the global offshore oil production industry.
Additionally, the FPSO innovatively adopts other advanced emission reduction technologies, including electrification, automation and digitalization, combined-cycle power systems, seawater turbine generators, steam generators, hydrocarbon cargo tank inerting systems, and an integrated enclosed flare system. These technologies will substantially lower its overall carbon emissions and enhance operational efficiency. As the most environmentally friendly FPSO in the world, it is also the first floating oil production, storage, and offloading platform with carbon capture capabilities, setting a benchmark for technological leadership in the global FPSO industry.
It is estimated that the carbon emission of conventional FPSO is in the range of 20-30 kg CO2 equivalent/barrel. Based on the crude oil production of the round, it is expected that the CO2 emission can be reduced by about 230,000 tons per year, which is equivalent to the CO2 absorption of 110,000 mu of forests in a year, and it assesses the technological feasibility of the environmental protection target of Yinson responding to the Paris Agreement to achieve carbon neutrality in 2030 and net-zero emission in 2050.
Agogo FPSO is the seventh FPSO undertaken by COSCO Shipping Heavy Industry (Shanghai), and also the third FPSO conversion project between COSCO Shipping Heavy Industry (Shanghai) and YINSON. In recent years, the two sides have deepened their cooperation on FPSO conversion projects, supported each other, made mutual achievements and achieved positive results in cooperation.