What Altera Infrastructure LP Units does

Altera Infrastructure is a privately held offshore energy infrastructure services company, owned by Brookfield Asset Management's private equity business and structured as a master limited partnership (Altera Infrastructure L.P.). The company owns and operates critical floating production assets — specifically six Floating Production, Storage and Offloading (FPSO) units and one Floating Storage and Offloading (FSO) unit, with three additional offshore units held through a 50%-owned joint venture (Altera&Ocyan). Altera positions itself as the fourth largest leased FPSO operator globally and the largest independent FPSO operator in the North Sea, drawing on 45 years of cumulative floating-sector experience and roughly 750 employees across six offices in Norway, the UK, the Philippines, Brazil, and Côte d'Ivoire.

The company's core technology centers on ship-shaped and cylindrical FPSOs equipped with dynamic positioning and offshore loading systems, designed for hydrocarbon extraction in deep waters and harsh weather environments. Vessel capabilities include processing up to 90,000 barrels of oil per day, 160 million cubic feet of gas per day, and storage of up to 1.4 million barrels of crude oil. Altera also delivers bespoke duty holder services, taking ownership and control of safety cases, people, operations, and commercial aspects for new and existing operators.

Altera generates revenue primarily through long-term bareboat charter contracts — typically 15 years in duration — with international and national oil and gas operators, supplemented by managed duty holder services. The go-to-market is enterprise field sales: bespoke contract negotiations for specific deepwater field developments, exemplified by the strategic partnership with Eni for the Baleine field offshore Côte d'Ivoire. Consolidated assets are valued at approximately $3 billion. In September 2025, Altera entered an agreement to divest its entire FPSO business to Carlyle, a transaction pending closing that would transfer the FPSO portfolio, FSO Yamoussoukro, and the Altera&Ocyan JV interest to the global investment firm.

Name

Altera Infrastructure LP Units

Legal name

Altera Infrastructure Holdings L.L.C.

Website

https://alterainfra.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Altera Infrastructure is a privately held, Brookfield-owned operator of six FPSOs and one FSO serving major oil and gas clients through long-term bareboat charters and duty holder services across the North Sea, Brazil, and West Africa.

Ownership category

akta.pro rank

Product category

Offshore Energy Infrastructure Services

NAICS

Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)

SIC

Services-Miscellaneous Equipment Rental & Leasing (7350)

akta.pro primary industry

FPSO/FSO Hull Construction & Conversion (IMAJACAC)

akta.pro secondary industries

Offshore Vessel Life Extension, Major Conversion & Rebuild (EPC/Integration) (IMAJACAJ), Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)

Keywords

• Offshore energy infrastructure
• FPSO charter services
• Floating production storage
• Offshore oil and gas
• Duty holder services

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. FPSO and FSO Charter Contracts: Long-term bareboat charter contracts (typically 15-year terms) for FPSO and FSO vessels providing production, storage and offloading services to oil and gas clients. The company owns vessels and provides operations under charter and associated operating agreements.
2. Duty Holder Services: Bespoke duty holder services for new and existing operators, managing ownership and control of safety cases, people, operation and commercial aspects. Provides production, cost and field life efficiencies while maintaining focus on Health, Safety and Environment.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Altera Infrastructure owns and operates a fleet of Floating Production, Storage and Offloading (FPSO) and Floating Storage and Offloading (FSO) units, plus a Tension Leg Wellhead Platform (TLWP), used for offshore oil and gas production worldwide. The company also delivers duty holder services, assuming operator-level health, safety, environmental, and asset-integrity responsibility for offshore infrastructure owned by third parties.

Product overview

Altera Infrastructure provides critical offshore energy infrastructure assets, operating a fleet of six Floating Production, Storage and Offloading (FPSO) units and one Floating Storage and Offloading (FSO) unit. The fleet operates across the North Sea, Brazil, and West Africa, serving oil and gas clients with production, cost, and field life efficiencies while maintaining focus on Health, Safety and Environment. Services include design, provision, and operation of ship-shaped and cylindrical FPSOs for extracting challenging hydrocarbons in deep waters and harsh weather conditions. The company also provides bespoke duty holder services for new and existing operators, managing ownership and control of safety cases, people, operations, and commercial aspects.

Differentiator

Problem solved

Functional benefit

Products and services

• FPSO Petrojarl Rosebank A Floating Production, Storage and Offloading unit that produces, processes, stores and offloads crude oil for offshore field operators. Currently deployed under a long-term charter with Eni on the Baleine field offshore Côte d'Ivoire.
• FPSO Pioneiro de Libra FPSO operating for Petrobras in the pre-salt Libra field offshore Brazil, processing and storing crude oil at sea.
• FPSO Piranema Spirit FPSO operating in the Campos Basin offshore Brazil, providing production, processing, storage and offloading services.
• FPSO Petrojarl Kong FPSO formerly deployed in the UK North Sea, used for deepwater offshore production.
• FSO Yamoussoukro Floating Storage and Offloading unit providing offshore storage and offloading of crude oil for the Eni Baleine field offshore Côte d'Ivoire.
• FPSO 3R-3 FPSO operating in the Recôncavo Basin, Brazil, providing production, processing, storage and offloading services.
• TLWP 3R-2 Tension Leg Wellhead Platform (TLWP) supporting offshore oil production in the Recôncavo Basin, Brazil.
• Duty Holder Services Operator-level services in which Altera assumes health, safety, environmental, and asset-integrity responsibility for offshore infrastructure owned by clients, primarily in the UK North Sea.

Quantifiable outcome

• Fourth largest leased FPSO operator in the world
• +2 more outcomes

Named customers1 record

Segments1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Wison New EnergiescoreTechnology or Integration · 6 July 2026Chinese clean energy services provider contracted for EPCIC (Engineering, Procurement, Construction, Installation and Commissioning) of newbuild FPSO vessel for Baleine Phase 3. FPSO designed for water depths of 800-1,200 meters with processing capacity of up to 90,000 bopd, 80,000 bwpd, and 160 mmscfd gas. Vessel to be constructed in China.
• EnicoreStrategic or Co-development Partner · 3 July 2026Strategic partnership with Italian energy giant Eni for Baleine field development offshore Côte d'Ivoire. Altera executes principal agreements for FPSO vessel supply under fixed 15-year bareboat charter. Phase 3 will increase total field production to ~150,000 bopd. Eni is the operator and primary client, with Altera providing FPSO ownership and operations. Partnership extends Altera's operational presence in Côte d'Ivoire into the mid-2040s.
• Altera&Ocyan Joint VenturecoreStrategic or Co-development Partner50% owned joint venture partnership. Included in Carlyle acquisition of Altera's FPSO business. Additional three offshore units managed through this joint venture.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Saipem: Italian energy services and EPC major with FPSO engineering, procurement, construction and installation capabilities. Overlaps with Altera in offshore production infrastructure but operates a much broader portfolio including drilling, subsea, and onshore EPC.
• Aker Solutions: Norwegian energy services company with FPSO-related engineering and life-extension services, historically linked to Aker Floating Production. Adjacent to Altera's operations and life-extension capabilities, with broader exposure to upstream engineering and field development.
• TechnipFMC: Global subsea and surface energy services major with FPSO-related engineering, integration, and lifecycle services. Overlaps with Altera in deepwater production infrastructure but is substantially larger and more diversified across subsea, drilling, and digital.

Direct peers

• BW Offshore: Norwegian FPSO operator with a comparable fleet of leased FPSOs serving major oil and gas operators globally. Directly competes with Altera in the FPSO leasing market and operates in similar deepwater/harsh-environment regions.
• MODEC Inc. Japanese FPSO contractor with a global fleet of leased FPSOs serving IOCs and NOCs. Directly comparable as a long-term FPSO charter provider with similar EPC and operating capabilities, particularly across Brazil and West Africa.
• Yinson Production: Malaysian FPSO operator and a growing global leased FPSO player. Directly competes for FPSO charter tenders with major operators and has overlapping exposure to West Africa and Brazil offshore developments.
• Bumi Armada: Malaysian offshore energy services provider with an FPSO fleet serving IOCs across Asia, Africa and Brazil. Directly comparable as a leased FPSO operator competing for similar long-term charter contracts.
• SBM Offshore: Dutch-listed global leader in leased FPSO operations and the world's largest FPSO contractor. Directly comparable as a long-term FPSO charter lessor serving IOCs and NOCs across deepwater geographies with similar 15-20 year contract structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments

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

Frequently asked questions about Altera Infrastructure LP Units