Contract Amendment
Yinson Production has signed a contract amendment with Eni to upgrade the John Agyekum Kufuor floating production, storage and offloading (FPSO) unit offshore Ghana by increasing its gas capacity.
Under the amendment, signed on October 2, Yinson will carry out topside modifications to increase the FPSO’s gas export capacity to 355 million standard cubic feet per day from about 210-220 MMscf/d.
The non-associated gas modification project will install additional gas compression to address expected declines in reservoir pressure and expand the vessel’s gas handling and processing capabilities.
The work will include the fabrication and integration of two topside modules. The MG2 module will house two gas turbine-driven compressors, while the MC4 auxiliary gas treatment module will be designed to handle the increased gas volumes.
The modifications are expected to be completed by the first quarter of 2028.
As part of the amendment, the FPSO’s firm lease period has been extended by four years to 2036. Once the modifications are completed, Yinson will also receive an incremental day rate through 2036.
The additional day rate and lease extension together add about $600 million to its firm backlog.
