Yinson Production has announced the sale of a 11.8% stake in Yinson Boronia Consortium Pte. Ltd., which fully owns (indirectly) FPSO Anna Nery, to Kawasaki Kisen Kaisha, Ltd. ("K" Line) through a private sale transaction for a total cash consideration of USD 49 million.

The sale follows the final acceptance of the FPSO Anna Nery last year and the successful refinancing earlier this year, which were closing conditions of the Sale. "K" Line is the second strategic investor in FPSO Anna Nery, following Sumitomo Corporation with an equity stake of 25%. Upon completion of the Sale, Yinson Production retains controlling equity stake of approximately 63.2% in FPSO Anna Nery.

The group said the FPSO Anna Nery is a key part of the revitalisation of Petrobras' Marlim field in the Campos basin offshore Brazil. The FPSO, which achieved first oil in May 2023, has a production capacity of 70,000 BOPD and 142 MMSCFD, and an estimated contract value of USD 5.5 billion over a 25-year firm carter period, until 2048.

This Sale is seen to further strengthens the partnership between Yinson Production, Sumitomo and "K" Line. In addition to their equity stakes in FPSO Anna Nery, both Sumitomo and "K" Line are part of a consortium that owns 26% of the equity in the FPSO John Agyekum Kufuor in Ghana.