MoU signed for direct negotiation for FPSO contract for the Definitive System of the Atlanta Field

We hereby inform of the signing of the Memorandum of Understanding (MoU) with Yinson Holdings Berhad, through its subsidiary Yinson Acacia Ltd. (“Yinson”), for the direct and exclusive negotiation of FPSO supply contracts for the Definitive System (SD) of the Atlanta Field.

 

The MoU establishes the commencement of direct negotiation with exclusivity for the supply of the FPSO, covering the agreements for chartering, operation and maintenance of the production unit.

 

Yinson is an independent FPSO service provider that operates globally and operates production units in West Africa, the Americas, Europe and Southeast Asia.

 

Additionally, we have filed with IBAMA to obtain the SD preliminary license.

 

We expect to make the final SD investment decision in early 2022 to ensure the start of production in mid-2024.