Yinson signs firm contracts for FPSO Maria Quitéria in Brazil

FPSO Maria Quitéria is Yinson's second project award with Petrobras

Yinson signs firm contracts for FPSO Maria Quitéria in Brazil
Photo: Yinson

Yinson, through its wholly owned subsidiaries, Yinson Production Pte Ltd, Yinson Bergenia Production B.V. and Yinson Bergenia Serviços de Operação Ltda, has signed firm contracts with Petróleo Brasileiro S.A. (“Petrobras”) for the charter, operations and maintenance of FPSO Maria Quitéria, formerly known as FPSO Integrado Parque das Baleias (“IPB”), a floating, production, storage and offloading (“FPSO”) vessel in the North Campos Basin, offshore Brazil.

This is pursuant to the two Letters of Intent (LOI) for the project that were awarded on 12 November 2021. The estimated aggregate value of the contracts is equivalent to USD5.2 billion while the contract period is for 22.5 years from the date of the final acceptance.

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.

Yinson Group Chief Executive Officer Lim Chern Yuan of the project award, said:

“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 building Brazil’s energy industry together.” 

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.”

Flemming added:

“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.”