Yinson and Sumitomo to acquire an Anna Nery project in a $5.4bn deal.

Yinson, an investment company, which engages in the provision of floating, production, storage, and offloading services, and Sumitomo, a Sogo shosha general trading company, agreed to acquire an Anna Nery project, a floating production, storage and offloading vessel facility, for Petrobras, a Brazilian oil company, in a $5.4bn deal. The contract period is for 25 years from the date of the final acceptance. It is currently under conversion, on schedule for deployment in 2023. Sumitomo will have a 25% stake in the FPSO Anna Nery project, while Yinson will hold 75%, which was awarded by Petrobras. “Yinson and Sumitomo have a longstanding relationship built on trust and cooperation. In Sumitomo, we saw a partner that, like us, was seeking long-term strategic partnership – not just financial returns on a single project,” Lim Chern Yuan, Yinson Group Chief Executive Officer.