Yinson Production names world’s first FPSO sporting post-combustion carbon capture tech

Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, has held a naming and sail-away ceremony for a floating production, storage, and offloading (FPSO) vessel destined to operate off the coast of Angola, which is said to be the first of its kind that has been equipped with a post-combustion carbon capture pilot system to decarbonize operations.

After Yinson Production won a $5.3 billion contract for the FPSO Agogo in February 2023 from Azule Energy, a 50/50 joint venture between BP and Eni, the Malaysian giant secured a limited recourse term loan facility of up to $1.3 billion in May 2024 for the pre-and post-delivery financing of the unit booked to work offshore Angola for 15 years. The FPSO deal also contains additional optional periods of up to five years.

The FPSO Agogo, designed with a full suite of carbon emission reduction technologies, got its name at a grand naming and sail-away ceremony held on February 20, 2025, at Cosco Shipping Heavy Industry (Shanghai) Shipyard in Shanghai, China. The unit, perceived as the first-ever FPSO featuring carbon capture technology, is now set to sail to Angola for deployment in the Agogo Integrated West Hub development project in Block 15/06 offshore Angola.

Flemming Grønnegaard, Yinson Production’s CEO, highlighted: “We are thrilled to celebrate this key milestone with our client and all partners involved in this project. Featuring a full suite of technologies to reduce carbon emissions, including carbon capture technology, the Agogo FPSO is a true game-changer in the industry and underscores our commitment to reducing the environmental footprint of our operations.

“With a wealth of experience operating offshore assets to the highest standards in Africa since 1995, Angola is a new addition to our operations, and we look forward to contributing to Angola’s energy security. I extend my gratitude to Azule Energy and all stakeholders for their trust and support, as we remain committed to achieving first oil on schedule.”

With a production capacity of 120,000 barrels of oil per day, the FPSO Agogo has been enhanced with “cutting-edge” carbon reduction technologies that encompass a closed flare system, hydrocarbon blanketing, combined cycle technology, automated process controls, all-electric drive systems as well as the first pilot of a post-combustion carbon capture system on an FPSO, according to Yinson Production.

The firm underlines that such technology aligns with its goal of reaching carbon neutrality by 2030 and net zero by 2050, as the carbon-reducing technologies onboard the FPSO are anticipated to slash carbon emissions by up to 27%. To this end, the offshore production business arm of Malaysia’s Yinson made a strategic investment in Ionada in recognition of the potential the firm’s carbon capture technology holds as a tool to decarbonize FPSO operations.

Adriano Mongini, Azule Energy’s CEO, emphasized: “The completion of the Agogo FPSO with several months ahead of the established timeline underscores the project execution capabilities of Azule Energy and the perfect synergy among all stakeholders. This milestone maximises reserves in Block 15/06, including the tails of the mature fields of the area.’’

The Agogo field, which lies about 180 kilometers west of the coast of Angola, was discovered in 2019 in a water depth of approximately 1,650 meters with two FPSO vessels currently in operation. Once ready for service, the third FPSO will start work on the project with estimated reserves of around one billion barrels. The Agogo deepwater greenfield development is about 20 kilometers west of the FPSO N’Goma (West Hub), which has been in operation since November 2014. 

Per Dyberg, Agogo FPSO’s Project Director, underscored: “The successful and safe early delivery of the Agogo FPSO is a testament to the dedication and collaboration of our teams and partners. This has been an incredible journey, requiring engineering expertise and operational excellence.”

Aside from Grønnegaard, Mongini, and Dyberg, the ceremony was graced by the vessel’s Godmother, Evelise Neto Azevedo, alongside representatives of key stakeholders, including Angola’s Secretary of State for Petroleum and Gas, José Alexandre Barroso; CEO of Angola National Agency of Petroleum, Gas and Biofuels (ANPG), Paulino Fernando Jeronimo; and Cosco Shipping Heavy Industry’s Director & General Manager, Jiang Jijiang.

The list of others, who were also in attendance, includes directors and members of the senior management of Yinson Production, Yinson Holdings, Azule Energy, Cosco Shipping Heavy Industry, financiers, and key suppliers.

The FPSO naming ceremony comes only a day after Yinson Production bolstered its decarbonization arsenal by acquiring the Norway-based Stella Maris CCS business.