Azule Energy has advanced work to develop two discoveries offshore Angola with arrival of the Agogo floating production, storage, and offloading (FPSO) vessel in Angolan waters.
The Agogo FPSO forms a key part of the Agogo Integrated West Hub Project, which aims to develop Agogo and Ndungu fields, increasing production in Block 15/06 (OGJ Online, Feb. 28, 2023).
The FPSO is scheduled to start operations by end-2025, more than 6 months before the final investment decision startup date.
Built and operated by Yinson Production for Azule Energy, the vessel is expected operate for Azule Energy under a 15-year firm charter with the option to extend for another 5 years. The total contract value could reach about $5.3 billion, according to Yinson.
With a production capacity of 120,000 b/d of oil, the vessel features carbon-reduction technology, including the industry’s first pilot post-combustion carbon capture system on an FPSO. It also includes closed flare system, hydrocarbon blanketing, combined cycle technology, automated process controls, and all-electric drives (OGJ Online, Oct. 17, 2023). The carbon-reducing technologies onboard the FPSO are expected to reduce carbon emissions by up to 27%.
Azule is operator of the block. Partners are Sonangol Exploration and Production and Sinopec.
