Yinson Production

What Yinson Production does

Yinson Production is a leading independent owner and operator of Floating Production, Storage and Offloading (FPSO) and Floating Storage and Offloading (FSO) vessels, headquartered in Singapore with operations across 10+ countries including Brazil, West Africa and Southeast Asia. The company serves national oil companies, international oil companies and independent E&P operators through long-term lease and operate contracts (typically 10-25 years) covering engineering, procurement, construction, operations, maintenance and asset lifecycle management, supported by a contract backlog of approximately US$19.3 billion extending through 2050. Its asset base comprises 11 high-quality floating units (9 in operation, 2 under construction), including flagship FPSO Agogo, FPSO Anna Nery, FPSO Maria Quiteria and FPSO John Agyekum Kufuor, deployed in jurisdictions including Brazil, Angola, Ghana, Nigeria, Malaysia and Vietnam. FY2025 enterprise revenue was US$608 million with adjusted EBITDA of US$402 million.

The company's technology platform integrates EPC delivery, in-house operations and maintenance, and asset lifecycle management with Digital Twin-enabled real-time monitoring across the fleet, and is positioning itself as a first-mover in offshore decarbonisation through its Zero Emissions FPSO Concept. This includes the world's first post-combustion CO2 capture unit operating on an FPSO (FPSO Agogo offshore Angola, activated March 2026 using the CESAR1 solvent), as well as direct air capture, green and blue ammonia floating production units, and a liquid CO2 floating storage and injection concept. Yinson is extending into Floating LNG (FLNG) development via two dedicated SVP hires in 2026 (ex-Golar LNG and BW Offshore/NOV) and is building a carbon storage footprint through the acquisition of Norwegian CCS developer Stella Maris (Havstjerne project exposure targeting approximately 10 million tonnes per annum of CO2 storage by 2030) and a FEED-stage partnership with Provaris Energy on a 25,000 m3 liquid CO2 storage and transport unit.

The business is funded through a combination of project-level bond vehicles on the London Stock Exchange (FPSO Anna Nery USD 1,035m in June 2024, FPSO Maria Quiteria USD 1,168m in July 2025), a USD 600m corporate bond on Euronext Oslo (May 2024), senior secured bank financings (e.g. USD 131.5m Mizuho/UOB for FSO Block B in 2026), and a USD 1 billion equity round in January 2025 from the Abu Dhabi Investment Authority, RRJ Capital and BCI. Yinson Production is a wholly-owned subsidiary of Malaysian-listed Yinson Holdings Berhad and is preparing for an IPO or other investor exit within three to five years.

Name

Yinson Production

Legal name

Yinson Production Offshore Pte Ltd

Website

https://yinson-production.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Yinson Production is a Singapore-headquartered independent owner and operator of FPSO and FSO vessels, providing long-term lease and operate services to NOCs, IOCs and independent E&P operators across 10+ countries, with a US$19.3 billion backlog through 2050 and a first-mover offshore decarbonization platform.

Ownership category

akta.pro rank

Product category

Offshore Floating Production and Storage Services (FPSO/FSO)

SIC

Oil & Gas Field Services, Nec (1389), Engines & Turbines (3510)

akta.pro primary industry

FPSO/FSO Hull Construction & Conversion (IMAJACAC)

akta.pro secondary industries

Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG), Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)

Keywords

• Floating production storage
• Offshore oil and gas
• FPSO vessel operations
• Offshore energy infrastructure
• Offshore carbon capture

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. FPSO/FSO Lease and Operate (Charter): Long-term, fixed-period lease and operate contracts (typically 10-25 years) under which Yinson Production provides the FPSO/FSO vessel, operations and maintenance in exchange for recurring charter fees. Backlog of approximately USD 19.3 billion extends through 2050. FY2025 enterprise revenue of US$608 million and adjusted EBITDA of US$402 million.
2. Engineering, Procurement and Construction (EPC) and asset lifecycle services: Integrated EPC delivery for newbuild FPSO/FSO units, conversions and redeployments, plus continuous lifecycle services (engineering, modifications, upgrades) bundled with or preceding lease & operate engagements.
3. Project and corporate bond financing (capital markets issuance): Funding raised via dedicated project bond vehicles (e.g. Yinson Bergenia Production B.V. for FPSO Maria Quitéria, Yinson Boronia Production B.V. for FPSO Anna Nery) and a corporate bond (Yinson Production Finance B.V., USD 600m, 9.625% p.a., Euronext Oslo), enabling non-recourse or limited-recourse financing of vessels.
4. Carbon capture and storage (emerging): Emerging revenue line under development via the Zero Emissions FPSO Concept, offshore post-combustion CCS on FPSO Agogo, the FEED-stage partnership with Provaris Energy on a 25,000 m3 liquid CO2 storage unit, and the acquisition of Norwegian CCS developer Stella Maris (exposure to the Havstjerne project targeting ~10 million tonnes per annum of CO2 storage by 2030).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Yinson Production provides integrated Floating Production, Storage and Offloading (FPSO) and Floating Storage and Offloading (FSO) solutions delivered through a single platform that spans engineering, procurement and construction (EPC), operations and maintenance, asset lifecycle management with Digital Twin, and long-term lease and operate contracts. The company owns, operates and deploys 11 floating assets under 10-25 year charter agreements with oil and gas operators across Brazil, West Africa and Southeast Asia, and increasingly layers on decarbonisation technologies such as offshore post-combustion carbon capture, direct air capture and liquid CO2 storage.

Product overview

Yinson Production is an integrated provider of comprehensive FPSO (Floating Production, Storage and Offloading) and FSO (Floating Storage and Offloading) solutions, delivered as a single unified platform spanning the full asset lifecycle — Engineering, Procurement and Construction (EPC), Operations and Maintenance, Asset Lifecycle Management with Digital Twin, and Lease and Operate services. The portfolio is anchored by 11 high-quality floating assets across Brazil, West Africa, Southeast Asia and Malaysia, including flagship FPSO Agogo, FPSO Anna Nery, FPSO Maria Quitéria, FPSO John Agyekum Kufuor, FPSO Atlanta, FPSO Helang, FPSO Abigail-Joseph, FPSO PTSC Lam Son, FSO PTSC Bien Dong 01, with FSO Lac Da Vang and FSO for Block B under construction. Beyond core lease and operate, Yinson Production layers on a series of decarbonisation and low-carbon technology modules, headlined by the Zero Emissions FPSO Concept (2022) and its constituent technologies: Offshore Post-Combustion Carbon Capture (operational on FPSO Agogo), Direct Air Capture, Green and Blue Ammonia Floating Production Units, Liquid CO2 Floating Storage Injection, and Energy from Waste / Biomass. The offering also extends into adjacent offshore energy infrastructure such as Floating LNG (FLNG) Development and a FEED-stage Liquid CO2 Storage and Transport solution with Provaris Energy, connecting directly to the Havstjerne CO2 sequestration project on the Norwegian Continental Shelf through the acquired Stella Maris CCS developer.

Differentiator

Problem solved

Functional benefit

Products and services

• FPSO Lease & Operate
• FSO Lease & Operate
• Engineering, Procurement and Construction (EPC)
• Operations and Maintenance
• Zero Emissions FPSO Concept
• Offshore Post-Combustion Carbon Capture
• Liquid CO2 Storage and Transport (FEED with Provaris)
• Floating LNG (FLNG) Development

Quantifiable outcome

• USD 19.3 billion contract backlog extending through 2050
• +5 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• PetroVietnam Technical Services Corporation (PTSC)flagshipStrategic or Co-development PartnerLong-standing JV partner in Vietnam operating FSO PTSC Bien Dong 01 (since 2013) and FPSO PTSC Lam Son (since 2014). Co-developed FSO Lac Da Vang (Block 15-1/05, 10-year firm + 5-year option) and joint venture partner for the FSO for Block B (14-year firm + up to 9-year options, $131.5m senior secured bank financing from Mizuho and UOB).
• Azule Energy (BP / Eni 50/50 JV), Eni and BPflagshipStrategic or Co-development PartnerCollaboration behind the world's first offshore post-combustion CO2 capture installation on FPSO Agogo offshore Angola, using the CESAR1 solvent under a $5.7 billion contract. Positions Yinson Production as the operator and decarbonisation partner of choice for the Agogo field.
• Provaris Energy LtdcoreStrategic or Co-development PartnerPartnership advanced into the front-end engineering and design (FEED) stage focused on developing a 25,000-cubic-metre low-pressure tank for liquid CO2 storage and transport, with Yinson Production funding development costs through to commercialisation. Direct exposure to the Havstjerne CO2 sequestration project on the Norwegian Continental Shelf.
• Carbon CirclecoreStrategic or Co-development PartnerPartnership supporting Yinson Production's expansion into carbon capture and storage, contributing to the offshore CCS initiative and FPSO Agogo post-combustion capture work.
• Stella Maris (Norwegian CCS developer)coreStrategic or Co-development PartnerAcquired by Yinson Production to deepen its position in the carbon capture value chain and provide direct exposure to the Havstjerne CO2 sequestration project on the Norwegian Continental Shelf (targeting ~10 million tonnes per annum of storage by 2030).
• London Marine Group LimitedcoreStrategic or Co-development Partner100% acquisition by Yinson; London Marine specialises in the design of turret mooring systems, with a broad portfolio including FPSO platforms and emerging energy sectors like floating wind and tidal energy, strengthening Yinson's leadership in the FPSO industry.
• Sumitomo CorporationflagshipStrategic or Co-development PartnerCo-sponsor (with Yinson Production Offshore Pte. Ltd.) of the Yinson Boronia Production B.V. vehicle that issued the USD 1,035m FPSO Anna Nery Project Bond (144A/Reg S, 18.2 years, 8.947% p.a., Ba1/BB+).
• Chinese shipyard network (COSCO Shipping Heavy Industry, Nantong Strongwind Shipyard, CIMC Raffles, Huarun Dadong Dockyard, Jiangsu Libert)coreImplementation/ SI/ Consulting PartnerLong-standing partner network for fabrication, integration, upgrades, construction and modification of Yinson Production's FPSO and FSO projects across Brazil, West Africa and Vietnam. The new Shanghai office (opened 2026) deepens this relationship.
• Kwame Nkrumah University of Science and Technology (KNUST) and Petroleum Commission of GhanaminorStrategic or Co-development PartnerFive-year research and development partnership (signed 12 June 2025) for the Net-Zero Carbon Emissions Project (NCEP). Yinson Production Ghana funded the Net-Zero Carbon Emissions Lab (NCEL) at KNUST's College of Engineering with approximately US$350,000.
• Petroleum Training and Education Fund (Petrofund), NamibiaminorGTM or Marketing PartnerMemorandum of Understanding for local content initiatives in Namibia, including On-the-Job Training programme, internships, university support, local supply chain, maritime scholarship and technical capacity building for state agencies, aligned with Yinson Production's opening of its Windhoek office in January 2026.
• Elite Links SolutionsminorGTM or Marketing PartnerLocal Ghanaian partner that co-launched Yinson Production Ghana's Entrepreneurship Development Programme for 400 final-year Senior High School students in the Ahanta West Municipality, complementing academic learning with practical business skills.
• Stephenson Harwood LLPminorImplementation/ SI/ Consulting PartnerLaw firm that advised on seven award-winning transactions at the Marine Money Deal of the Year Awards 2024, including a $1.3 billion FPSO project finance structure for Yinson Production operating in Angola.

Scale indicators13 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• MODEC: Japanese FPSO and FSO owner-operator with a global fleet of floating production units serving Petrobras and other Brazilian and West African operators. Directly competes with Yinson on Petrobras tenders and in West Africa, and represents the other major independent FPSO pure-play comparable to Yinson Production.
• SBM Offshore: World's largest FPSO contractor and the historical reference competitor for Yinson. Both companies own, lease and operate FPSOs for IOC/NOC clients under 10-25 year contracts and use similar project bond structures. Bruno Chabas, ex-CEO of SBM Offshore, now sits on Yinson's Board, underscoring the competitive overlap.
• BW Offshore (Altera Infrastructure): Norwegian FPSO owner-operator with a fleet of production units and a 30-year track record. Direct competitor in floating production services for IOC/NOC clients, including in Brazil and West Africa, and a key source of senior talent for Yinson (COO and several SVPs are ex-BW Offshore).
• Golar LNG: Floating LNG (FLNG) pure-play and operator of the Hilli Episeyo and Gimi FLNG units. Yinson has hired two SVPs directly from Golar LNG (Olve Skjeggedal, Erik Svendsen) to build its FLNG capability, making Golar the most direct reference point for Yinson's planned FLNG expansion.

Emerging players

• Delfin Midstream: Developer of FLNG projects (including the Delfin FLNG vessel) using converted LNG carriers. Represents an emerging competitor in the FLNG market that Yinson is now targeting as an adjacent growth axis beyond FPSOs.
• Excelerate Energy: US-listed provider of floating LNG regasification (FSRUs) and integrated LNG solutions. Comparable as a publicly-traded floating LNG/floating infrastructure operator with a project-development and long-term charter model similar in shape to Yinson's FPSO business.
• Stolt-Nielsen (Stolt-Nielsen Gas): Through Stolt-Nielsen Gas and related ventures, the company is developing small-scale FLNG and LNG shipping solutions. Adjacent to Yinson's emerging FLNG push and a potential partner or competitor in the mid-scale floating LNG segment.

Broad incumbents

• McDermott International: Global offshore EPC contractor with exposure to FPSO topsides, SURF and subsea construction. Competes with Yinson on the EPC portion of newbuild FPSO projects even though McDermott does not own and operate FPSOs as a long-term lessor.
• Petrofac: Integrated offshore services provider and FPSO operator with a smaller FPSO fleet plus broader EPC, operations and decommissioning capabilities. Overlaps with Yinson on EPC delivery and lifecycle services for offshore production assets.

Regional players

• Höegh LNG: Norwegian owner and operator of floating LNG regasification and storage units. Comparable as a Norway-based floating infrastructure operator in an adjacent offshore segment, and a source of experienced LNG/floating production talent for the broader industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@YinsonGroup
• LinkedInlinkedin.com/company/yinson-production

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yinson Production