ANGOLA: Yinson enters into Agreement for Preliminary Activities for Agogo Project

Malaysian Yinson Production has entered into an Agreement for Preliminary Activities (APA) with Azule Energy to commence all preliminary activities for the provision, operation and maintenance of a floating, production, storage and offloading asset for the Agogo Integrated West Hub Development Project in Angola.

The APA outlines both parties’ interests in commencing preliminary work in order to meet the project schedule, while finalising firm contract(s) for the project. The term of the APA is 60 days with an approximate aggregate value of USD218 million.

Azule is Angola’s largest independent equity oil and gas producer, and a 50/50 joint venture between BP p.l.c. and Eni S.p.A.

YP is one of the largest independent floating, production, storage and offloading (FPSO) leasing companies globally, with an order book of over USD16 billion until 2048