Yinson Production has finalised the sale of an 11.8% stake in Yinson Boronia Consortium, which completely owns the floating, production, storage and offloading (FPSO) vessel Anna Nery, to Kawasaki Kisen Kaisha, known as “K” Line.
The $49m private sale deal was announced in July 2020.
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During a 25-year charter period, this FPSO has an estimated contract value of $5.5bn until 2048.
The deal’s completion follows the FPSO’s final acceptance last year and successful refinancing earlier this year, both of which were conditions for completion of the sale.
“K” Line now joins Sumitomo Corporation as a strategic investor in Anna Nery, with Sumitomo holding a 25% equity stake.
Post-sale, Yinson Production (YP) maintains a controlling interest of approximately 63.2% in the FPSO.
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By GlobalDataAnna Nery plays a pivotal role in Petrobras’ Marlim field revitalisation in Brazil’s offshore Campos basin.
It commenced oil production in May 2023 and has a capacity of 70,000 barrels of oil per day and 142 million standard cubic feet per day.
This sale solidifies the existing partnership between YP, Sumitomo and “K” Line. Sumitomo and “K” Line hold a 26% equity stake in the FPSO John Agyekum Kufuor in Ghana.
YP chief financial officer Markus Wenker said: “We are delighted to welcome “K” Line as a new shareholder in FPSO Anna Nery. This transaction marks another milestone in our long-standing strategic partnership with “K” Line and reflects their deep understanding of the sector, as well as their confidence in Yinson Production’s excellence as a leading independent owner and operator of FPSOs globally.
“Partnerships like this are central to our strategy [of] optimising capital efficiency as we continue to grow our platform, creating significant value for all our stakeholders.”
In October 2023, YP announced a collaboration with Azule Energy on an initiative to test an offshore carbon capture and storage facility on Azule’s Agogo FPSO in Angola.
