FPSO Atlanta: Yinson's Fleet Addition Poised for 2024 Launch

In a grand event at Dubai Drydocks World on December 13, 2023, Yinson Production warmly welcomed the latest jewel in its crown, the FPSO Atlanta. This momentous occasion marked a significant milestone in the company's journey.

Equipped to handle an impressive 50,000 barrels of oil per day, the FPSO Atlanta is not just a marvel in terms of its sheer capacity, which reaches a staggering 1.251 million barrels. The company's commitment to the environment makes it stand out. The vessel features a state-of-the-art carbon management system that cleverly uses fuel gas to safely manage the inertization of cargo tanks. This innovative approach is a game changer in reducing flare gas emissions, thanks to its closed flare system.

The journey of FPSO Atlanta with Yinson Production began in December 2021 when Yinson and Enauta expressed their intentions through a letter and moved forward with firm contracts by February 2022. These contracts encompassed the comprehensive engineering, procurement, construction, installation, operation, and maintenance of the vessel for an initial two-year period, along with a purchase option for Yinson.

In July 2023, Yinson confidently exercised its option to purchase the FPSO Atlanta, securing a 15-year contract (with an additional 5-year extension option). This deal, worth up to $1.981 billion, also included project financing of $400 million.

The construction and installation of FPSO Atlanta is progressing smoothly. Upon completion, it is set to be stationed at the Atlanta Field in the Santos Basin, off the coast of Brazil. This strategic deployment is eagerly awaited, with the first oil production anticipated later in 2024. Significantly, FPSO Atlanta is not just any addition to Yinson's fleet; it represents the second of three such vessels the company plans to introduce in Brazil, showcasing Yinson's commitment to expanding its operations and embracing innovative environmental practices.