Luanda: Yinson Holdings Bhd’s offshore energy solutions and floating, production, storage, and offloading (FPSO) business unit, Yinson Production, has commenced the 15-year firm charter for the Agogo FPSO, following the issuance of the Provisional Operational Readiness Certificate (PORC) on August 12, 2025. Yinson Production announced that the Agogo FPSO achieved first oil on August 29, 2025, four months ahead of the original schedule and 29 months after the contract award.

According to BERNAMA News Agency, the PORC marks the beginning of the FPSO’s 15-year firm lease and operate contract with client Azule Energy, Angola’s largest independent oil and gas producer and a 50:50 joint venture between BP and Eni. The contract includes a firm period of 15 years, with optional annual extensions of up to five years, and the total contract value exceeds US$5 billion.

Yinson Production entered into the contract for the provision, operation, and maintenance of the Agogo FPSO with Azule Energy in February 2023. With a production capacity of 120,000 barrels of oil per day and a storage capacity of 1.6 million barrels, the FPSO is deployed at the Agogo Integrated West Hub Development Project in the West Hub of Block 15/06 offshore Angola.

Following the completion of construction, integration, mechanical completion, and commissioning, the Agogo FPSO sailed from Shanghai, China in March 2025, arrived in Angola in May 2025, and completed mooring hook-up in June 2025. It features a range of emissions-reducing technologies, including a closed flare system, hydrocarbon blanketing, combined cycle technology, automated process controls, and all-electric drives. It is also the world’s first operating FPSO with carbon capture technology.

With the Agogo FPSO having received PORC, 97 percent of Yinson Production’s total contracted revenue backlog of about US$19 billion now stems from fully operational assets. The successful completion of the project also frees the project’s engineering, procurement, and construction team to execute new projects.

Yinson Production CEO Flemming Guiducci Gr¸nnegaard emphasized the company’s ability to deliver complex projects on or ahead of time, meeting the highest standards. He noted that the Agogo FPSO marks an important step in expanding Yinson Production’s footprint in Africa and will positively contribute to Angola’s economic growth.

Azule Energy CEO Adriano Mongini highlighted the vessel’s low-carbon footprint and pioneering carbon capture technology as a commitment to efficient and sustainable operations. He expressed confidence in Yinson’s ability to operate and maintain the asset with excellence.

Agogo FPSO project director Per Dyberg acknowledged the outstanding collaboration between Yinson Production and Azule Energy, stating that the ahead-of-schedule delivery reflected the teams’ efforts. He expressed confidence that the Agogo FPSO will continue to perform to the highest standards for many years to come.