Recently, Yinson Production has officially named its latest addition to the fleet, FPSO Atlanta, during a grand naming ceremony held at Dubai Drydocks World in Dubai.
The naming ceremony was graced by FPSO Atlanta Site manager and Lady Sponsor Mrs Maria Eduarda Pessoa, and witnessed by Yinson Production Chief Executive Officer Mr Flemming Grønnegaard, Enauta Energia S.A. (“Enauta”) Chief Executive Officer Mr Décio Oddone, Yinson Production Project Manager for FPSO Atlanta Mr Scott Bendiksen, Drydocks World Chief Executive Officer Capt Rado Antolovic, PhD, as well as members of the board of directors and senior management of Yinson Production and Enauta.
FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1,251,000 bbls. It will feature an efficient carbon management process plant, which utilises fuel gas for cargo tank inertisation 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 decarbonising 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-year firm (plus a 5-year extension option) contract for the provision, operation and maintenance with a total contract value of up to USD 1,981 million as well as project financing in the amount of USD 400 million.
The engineering, procurement, construction, and installation of the FPSO Atlanta is steadily progressing and upon completion, the asset will be deployed at the Atlanta Field located in the Santos Basin, offshore Brazil, with the first oil expected to be achieved later in 2024.
FPSO Atlanta will be the second of three FPSO vessel assets that Yinson Production will deploy in Brazil.
The FPSO will operate in the Atlanta field in the Santos Basin offshore Brazil for Enauta Energia S.A. under a 15 years (plus 5 optional years) lease and operate contract with a total value of up to USD 2 billion.
Mr Décio Oddone said, “Phase 1 of Atlanta is moving quickly to reach 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.”
Capt Rado Antolovic said, “We are proud of our ongoing RLEC work (Repair, Life Extension and Conversion) for the newly named FPSO Atlanta. On completion we are confident of FPSO Atlanta’s longevity in offshore Brazil without drydocking. The naming ceremony is another milestone in this project which has an expansive scope for Drydocks World including the fabrication and installation of 3000 tonnes of structure.”