39-year-old FPSO ready for redeployment as it changes hands

A 1986-built floating production, storage, and offloading (FPSO) vessel, seen as capable of supporting early-phase and tail-phase production at offshore oil fields given its experience to date, is getting a new owner, which intends to find the unit’s next job in regions such as Vietnam, Suriname, Brazil, and West Africa.

The purpose-built FPSO Petrojarl I, which has a rich history of deployment dating back to 1986, is being acquired by the Aberdeen-based Amplus Energy from UK-headquartered Altera Infrastructure, a global energy infrastructure services group focused on the ownership and operation of offshore energy assets.

Steve Gardyne, Amplus Managing Director, who sees the FPSO acquisition as a “hugely significant” move for the company, highlighted: “This vessel is unquestionably the most flexible and most deployed FPSO in history – and Amplus now has the opportunity to apply our experience and approach to steward it safely and successfully for years to come. The addition of this vessel strengthens our ability to meet growing market demands and ensure we are well-positioned to address client needs.  

“Furthermore, this acquisition has the potential to fast-track our journey to becoming a fully operational organisation, complete with our own onshore support and offshore team. It also underscores our commitment to investing in the business and applying our considerable experience and expertise to deliver exceptional value to our clients.” 

The unit recently wrapped up its years-long assignment in Brazil, where it worked for Brava Energia, former 3R Petroleum before the merger with Enauta, on the Atlanta field in block BS-4 within the Santos Basin, before being replaced by the FPSO Atlanta in 2024.

Ian Herd, Executive Director at Amplus Energy, explained: “We have strategic plans for further vessel ownership, with the aim of being the redeployment vessel contractor of choice. There is a market opportunity for a trusted, entrepreneurial FPSO contractor operating at the flexible, niche end of the spectrum offering fit-for-purpose vessels at a very competitive price, backed up by a leadership team with extensive operator experience supported by a scalable and aligned set of subcontractors.“

The FPSO acquisition, which allows Amplus to expand its fleet, is perceived to mark a significant milestone for the UK player, introducing what it describes as “a distinctive new capability” to the market with a more flexible solution thanks to a ready-to-deploy unit.

Chris Brett, President of Altera Infrastructure Production, commented: “We congratulate Amplus Energy on their contract to purchase the FPSO Petrojarl I. Petrojarl I was Altera’s very first FPSO and the industry’s first newbuild harsh environment FPSO achieving first oil in 1986. It has been operated by Altera on 11 fields for many years. We wish Amplus Energy and all who will serve on Petrojarl I in the years ahead much success and safe operations.”

The purchase of the FPSO Petrojarl I represents Amplus’ initial vessel ownership, positioning the company to expand this strategy and meet growing market demands after focusing on delivering innovative field development solutions, offering vessel design and leasing options over direct ownership.

The firm believes the unit is ideal for cost-efficient, lower-production operations, as it can handle both early-phase and tail-phase production in regions such as Vietnam, Suriname, Brazil, and West Africa, with minimal modification to be field-ready for specific customer needs. 

According to the Scottish player, Petrojarl I is available for swift deployment in early production system applications, extended well tests, and standalone marginal field developments.

Amplus Energy, as part of a joint venture with Versatile Group (VG Energy), teamed up with Carbon Circle last year to enable marginal oil and gas fields in West Africa to achieve their full untapped potential and step up the carbon capture game.

The firm also joined forces with EnQuest’s Veri Energy and Ocean-Power to advance decarbonization by upping the offshore electrification ante in the UK and Norway with carbon capture solutions to slash oil and gas installations’ carbon footprint.