Yinson Holdings Bhd today says it has signed firm contracts with Brazil’s national oil company Petróleo Brasileiro S.A. (Petrobras) over US$5.2 billion contracts.
The contracts are for the charter, operations, and maintenance of Yinson’s FPSO Maria Quitéria – a floating, production, storage, and offloading (FPSO) vessel – in the North Campos basin offshore Brazil.
Yinson said the two letters of intent (LoI) for the project had been awarded on November 12 last.
The company said that FPSO Maria Quitéria is Yinson’s second project award with Petrobras and the third project award in Brazil, in line with the Group’s plans to expand its presence in Brazil.
Brazil is a vital market to us and Yinson is thrilled that Petrobras, one of the most recognisable leaders in the energy sector, has entrusted us once more with the delivery of FPSO Maria Quitéria. We would like to thank Petrobras for placing their confidence in us and we look forward to continue to build Brazil’s energy industry together,” said Yinson Group Chief Executive Officer Lim Chern Yuan of the project award.
Yinson Chief Executive Officer Offshore Production, Flemming Grønnegaard commented, “The experience that Yinson has gained so far through the FPSO Anna Nery project, which was awarded by Petrobras in 2019, has proven invaluable and we are confident that this shall serve as the backbone for the successful delivery of FPSO Maria Quitéria.”
“At the heart of this project is Yinson and Petrobras’ joint aspiration towards tackling world climate issues. We look forward to implementing low emission designs that were a key consideration of FPSO Maria Quitéria’s design scope and begin realising Yinson’s zero emission FPSO concept, which is an important component in Yinson’s Climate Goals Roadmap,” added Flemming.
