Yinson Production has completed the sale of minority stake in floating, production, storage and offloading (FPSO) unit Anna Nery, working for Petrobras offshore Brazil, to “K” Line for $49 million.
Yinson Production sold its 11.8% stake in Yinson Boronia Consortium, which indirectly fully owns FPSO Anna Nery, deployed at the Marlim field.
The sale follows the final acceptance of the FPSO Anna Nery last year and the successful refinancing earlier this year, which were closing conditions of the sale.
“K” Line is the second strategic investor in FPSO Anna Nery, following Sumitomo Corporation with an equity stake of 25%.
Upon completion of the sale, Yinson Production retains controlling equity stake of approximately 63.2% in the FPSO.
FPSO Anna Nery is a key part of the revitalization of Petrobras’ Marlim field in the Campos basin offshore Brazil.
The FPSO, which achieved first oil in May 2023, has a production capacity of 70,000 BOPD and 142 MMSCFD, and an estimated contract value of $ 5.5 billion over a 25-year firm carter period, until 2048.
"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,” said Markus Wenker, Chief Financial Officer of Yinson Production.