FPSO Atlanta Prepped to Join Yinson Fleet in '24
Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023.
FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1,251,000 bbls. It will feature a carbon management process plant, which uses fuel gas for cargo tank inertization that will significantly reduce flare gas emissions through a closed flare system.
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, operation and maintenance for an initial period of 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 $1.981B as well as project financing in the amount of $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.