Yinson Holdings Berhad (“Yinson” or the “Group”), through its wholly owned subsidiary Yinson Acacia Ltd has entered into a binding Memorandum of Understanding (“MoU”) with Enauta Energia S.A. (“Enauta”) to engage in exclusive negotiations for the potential supply and charter of a floating production storage and offloading (“FPSO”) unit for the Atlanta field in the Santos Basin, Brazil.

The MoU is in line with Yinson’s ambitions to strengthen its presence in Brazil, which is a territory of paramount importance, and where it currently has an operations office.

Yinson Group Chief Executive Officer Lim Chern Yuan commented, “The signing of this MoU is an important milestone for both Yinson and Enauta, signifying our joint commitment to progress towards a contract award. We share a common goal with Enauta to contribute towards the advancement of Brazil’s energy industry through solutions that are as sustainable as possible.”

Yinson Offshore Production Chief Executive Officer Flemming Grønnegaard said, “We are looking forward to working with Enauta to develop a solution that leverages on the potential synergies between our Brazil-based projects to achieve greater efficiencies. In Enauta, we find a like-minded partner who is committed to mitigating climate change issues. As such, minimising the FPSO’s environmental impact will be a key design consideration.”

Established in 1998, Enauta is one of the leading independent companies in the Exploration & Production sector in Brazil. The Company has a strong presence in Brazil with two producing offshore assets, Atlanta and Manati field, as well as 19 exploration blocks. Enauta is a wholly owned subsidiary of Enauta Participacoes S.A., a listed entity on the Brazilian stock exchange B3 since 2011 with a market capitalization of RM3.0 billion, total equity of RM2.7 billion and a net cash position of RM1.5 billion as at June 2021.