UK-based Amplus Energy has become a shipowner with the acquisition of an elderly floating production storage and offloading unit.
The 31,500-dwt Petrojarl I (built 1986) was bought from Altera Infrastructure for an undisclosed price.
Amplus said the deal marked a “significant milestone” and introduced a “distinctive new capability” to the market.
The Japanese-built FPSO was last sold in an internal deal in 2014 for $57m, when Teekay Corp moved it to spin-off Teekay Offshore, which later became Altera Infrastructure, also based in the UK, under the ownership of Brookfield Business Partners.
The purpose-built ship is renowned as the most versatile and widely deployed FPSO in history, according to Amplus.
“Fully classed, the vessel has recently completed a successful deployment in Brazil,” Amplus added.
“Notably, this marks Amplus’ initial vessel ownership, positioning the company to expand this strategy and meet growing market demands,” the buyer said.
Amplus was founded in 2008 and has so far focused on delivering field development solutions, vessel design and leasing options instead of direct ownership.
The Petrojarl I is available for swift deployment for well tests and field developments.
Additionally, the vessel is ideal for cost-efficient, lower-production operations and can support both early-phase and tail-phase production in regions such as Vietnam, Suriname, Brazil and West Africa, Amplus explained.
The unit requires “minimal modification” to be field-ready for specific customer needs, the company said.
Amplus managing director Steve Gardyne said: “This vessel is unquestionably the most flexible and most deployed FPSO in history — and Amplus now has the opportunity to apply our experience and approach to steward it safely and successfully for years to come.
“Furthermore, this acquisition has the potential to fast-track our journey to becoming a fully operational organisation, complete with our own onshore support and offshore team.”
Amplus executive director Ian Herd said the company has “strategic plans” for further vessel ownership, with the aim of being the redeployment vessel contractor of choice.
“There is a market opportunity for a trusted, entrepreneurial FPSO contractor operating at the flexible, niche end of the spectrum offering fit-for-purpose vessels at a very competitive price, backed up by a leadership team with extensive operator experience supported by a scalable and aligned set of subcontractors,” he said.
Altera Infrastructure Production president Chris Brett said: “We congratulate Amplus Energy on their contract to purchase the FPSO Petrojarl I.
“Petrojarl I was Altera’s very first FPSO and the industry’s first newbuild harsh environment FPSO achieving first oil in 1986.
“It has been operated by Altera on 11 fields for many years. We wish Amplus Energy and all who will serve on Petrojarl I in the years ahead much success and safe operations.”
Altera sold its Altera Shuttle Tankers company to Greece’s Angelicoussis Group last year, and retains five other floating storage units.
TradeWinds reported earlier on Wednesday that Altera had sold its Norwegian carbon capture and storage company, Stella Maris CCS, to Singapore-based Yinson Production.(Copyright)
