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OFF ANGOLA, THE FIRST FPSO EQUIPPED WITH A CARBON CAPTURE SYSTEM IS PREPARED FOR SERVICE.
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Together with leaders of the industry, Yinson Production and representatives from China's COSCO Heavy Industries celebrated the completion and designation of the world's first FPSO that integrates carbon capture and other carbon-reducing technologies. By the end of the month, the Agogo FPSO will be turned over more than a month ahead of schedule, breaking the speed record for conversion. It will then go to Angola, where it will be in operation for at least the next 15 years.
In February 2023, Azule Energy, a joint venture between BP and Eni, awarded the FPSO contract to the Malaysian business. In an agreement worth roughly $5.3 billion, Azule Energy has a 15-year charter with a five-year option.