Malaysian FPSO leasing company Yinson has agreed to start preliminary activities for the provision of an FPSO for Eni, BP JV in Angola, called Azule Energy.

Under the agreement with Azule Energy, Yinson will kick off 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.

Azule Energy, formed in August 2022, is Angola’s largest independent equity oil and gas producer.

"The APA [Agreement for Preliminary Activities] outlines both parties’ interests in commencing preliminary work in order to meet the project schedule, while finalising firm contract(s) for the project," Yinson said.

According to Yinson, the term of the APA is 60 days with an approximate aggregate value of USD218 million (equivalent to approximately RM956 million).