Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has tucked a new milestone under its belt with a naming ceremony for a floating production, storage, and offloading (FPSO) destined to be deployed off the coast of Brazil. The vessel was named at Cosco Shipping Heavy Industry (Shanghai) shipyard in China.
Following a letter of intent from November 2021, Yinson Production was awarded the supply, operation, and maintenance of the FPSO Maria Quitéria in February 2022 by Petrobras. When August 2023 rolled in, the Malaysian player secured a $230 million term loan facility for the FPSO conversion project.
Yinson Production named the FPSO Maria Quitéria during a grand naming ceremony held at Cosco Shipping Heavy Industry shipyard on April 3, 2024. With all topside modules onboard and integrated, the commissioning is underway while the sailaway to Brazil will be in the second quarter of 2024.
The naming ceremony was attended by Lady Sponsor Lim Chern Fang ; Yinson Production’s Chief Executive Officer, Flemming Grønnegaard ; Project Manager, Noel Denton ; Petrobras’ Contract Manager, Tiago Pace Estefen ; Cosco Shipping Heavy Industry’s General Manager, Jiang Jijiang ; and members of the boards of directors, senior management and representatives of Yinson Production, Petrobras, and Cosco as well as financiers and key vendors.
Flemming Grønnegaard, Yinson Production’s Chief Executive Officer, highlighted: “Together with our client Petrobras, we are very pleased to celebrate the naming of our newest FPSO today. FPSO Maria Quitéria incorporates state of the art technologies to reduce emissions and increase efficiency, setting new standard.
“These technologies, together with our ability to complete the asset on time, are showcasing our innovative design capabilities and project execution excellence once more. We thank Petrobras and all our stakeholders involved in this project for their trust and unwavering support and are committed to achieving a timely first oil and contributing towards Brazil’s energy landscape.”
With a production capacity of 100,000 barrels of oil per day and a storage capacity of 1 million barrels, the FPSO Maria Quitéria is expected to be the first FPSO in Yinson Production’s fleet to operate heat recovery steam generation (HRSG) as part of its combined cycle power generation system. This is one of several technologies that the Malaysian player is implementing across its fleet, in line with its efforts to curb carbon emissions and become a decarbonization frontrunner in the FPSO industry towards the goal of net zero.
Jiang Jijiang, Cosco Shipping Heavy Industry’s General Manager, noted: “We take pride in our ongoing efforts on the newly christened FPSO Maria Quitéria. The naming ceremony marks another significant milestone in this project and upon completion, we are assured of its endurance and performance in offshore Brazil.”
The FPSO Maria Quitéria will be deployed at the Parque das Baleias integrated project under a 22.5-year lease and operate contract with a total contract value of up to $5.3 billion. This project is located at the Petrobras-operated Jubarte field in the northern Campos Basin, around 80 kilometers off the coast of Anchieta, Espírito Santo, Brazil.
This is Yinson Production’s third FPSO destined for Brazil, following the FPSO Anna Nery , which has been operating for Petrobras since May 2023, and the FPSO Atlanta – expected to achieve its first oil in summer this year and operate for Enauta Energia.
Tiago Pace Estefen, Petrobras’ Contract Manager, underlined: “Petrobras extends its congratulations to Yinson Production, Cosco Shipping and other stakeholders involved in reaching this significant milestone. With operations planned to commence soon, FPSO Maria Quitéria will assist in providing for the energy demands in the region.”
The Jubarte field , which lies at a water depth of approximately 1,300 meters, was discovered in 2001. The Parque das Baleias area is formed by the Jubarte, Baleia Anã , Cachalote , Caxaréu , Pirambú , and Mangangá fields.