The two parties will finalise firm contracts for the FPSO project. Credit: C Morrison from Pixabay.

Yinson Production, a unit of Yinson Holdings, has signed an agreement with Azule Energy to start preliminary activities related to the Agogo project offshore Angola.

The agreement for preliminary activities (APA) is related to the provision, operation, and maintenance of a floating production, storage and offloading (FPSO) unit for the Agogo Integrated West Hub development.

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Angola’s oil and gas producer Azule Energy is a 50/50 joint venture between BP and Eni.

The two parties will start preliminary work to meet the project schedule while finalising firm contracts for the project.

With an aggregate value of approximately $218m, the contract term has a period of 60 days.

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The Agogo oil field stared production in 2020 through the N’Goma FPSO unit, which has an oil processing capacity of 100,000 barrels of oil per day (bodp), a gas handling capacity of 115 million standard cubic feet per day, and a water injection capacity of 120,000 barrels per day.

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Earlier this year, Yinson secured contracts from Enauta Energia for the provision, operation, and maintenance of an FPSO unit in the Atlanta Field, located in the Santos basin, offshore Brazil.

The FPSO engineering, procurement, construction, and installation work is planned for completion by the first half of 2024.

In August 2022, Azule Energy and its partners awarded contracts worth approximately $1bn for the development of the Quiluma and Maboqueiro (Q&M) fields in Angola.

Saipem secured two engineering, procurement and construction contracts (EPC) for the onshore plant and for the Quiluma Platform.

JV Gruppo Antonini/Proger/Kerry Logistics was selected for the Maboqueiro Platform EPC Contract while Baker Hughes secured a contract for the supply of turbocompressors.