FPSO news! Altera signs contract with Eni

Altera Infrastructure Corporation has signed contracts with Eni Group for the deployment of the cylindrical floating production storage and offloading (FPSO) vessel, Voyageur Spirit, and the shuttle tanker, Nordic Brasilia, off the coast of Ivory Coast. These vessels will be deployed in the Baleine field under a fixed 15-year contract. The units are currently undergoing life extension work and site-specific modifications at the Dubai Drydocks World. The FPSO was previously operating in the Huntington field in the North Sea until 2020. The 2004-built shuttle tanker will be converted into a floating storage and offloading (FSO) vessel, providing additional storage capacity for the FPSO, with Altera continuing to own and operate both vessels.

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The Baleine field represents the largest commercial discovery in the country in the past 20 years and is expected to contribute to Ivory Coast’s energy production, reinforcing its role as a regional energy hub. The development project is Africa’s first net-zero emission project, covering Scope 1 and Scope 2 emissions. The project’s development will progress rapidly, with the second phase planned to commence in the fourth quarter of 2024.

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Altera, headquartered in the UK and formerly known as Teekay Offshore, possesses approximately 40 combined offshore assets valued at around USD 3.6 billion. The financial terms of the Eni agreement have not been disclosed.Chris Brett, President of Altera’s Infrastructure Production division, commented on the deal, stating, “Securing contracts in promising regions like Ivory Coast is a significant recognition of Altera’s capability to rapidly deliver complex projects. This marks the second contract based on the redeployment of existing FPSOs that we have consecutively awarded in a short period, underscoring that redeployment is one of the fastest, most cost-effective, and environmentally friendly ways for our clients to develop projects in the current market.”