Altera sells FPSO to newcomer owner Amplus Energy

UK floater player Altera Infrastructure has sold its FPSO unit Petrojarl I to Aberdeen-headquartered Amplus Energy.

Described as the most deployed FPSO in history, the 1986-built vessel is changing hands for an undisclosed sum after completing its charter with Enauta at the Atlanta field in Brazil’s Santos Basin.

The 215-m-long unit was Altera’s very first FPSO and the industry’s first newbuild harsh environment FPSO. It has been operated by Altera on 11 offshore fields. Following the sale, the company, which last year offloaded its shuttle tanker and deep-sea towage businesses, will count six FPSO assets, of which three are fully owned. Altera, formerly a part of Teekay, also owns a pair of FSOs and a semisub cylindrical flotel.

The Petrojarl I, built at Nippon Kokan for oil production of 30,000 bopd, marks Amplus’ entry into the FPSO acquisition market after years of focus on delivering field development solutions, offering vessel design and leasing options over direct ownership.

Steve Gardyne, Amplus managing director, said: “The addition of this vessel strengthens our ability to meet growing market demands and ensure we are well-positioned to address client needs, adding: “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 and also underscores our commitment to investing in the business.”

Ian Herd, executive director at Amplus Energy, added that the company has 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,” Herd said.