73 BUSINESS REVIEWS | YINSON PRODUCTION CONTINUOUS IMPLEMENTATION OF LOW EMISSIONS FEATURES ON OUR ASSETS FPSO Anna Nery Operational May 2023 FPSO Atlanta Expected to be operational by Q3 2024 FPSO Maria Quitéria Expected to be operational by Q4 2024 FPSO Agogo Expected to be operational by Q4 2025 All electric drives Automated process controls Automated process controls Closed flare system Hydrocarbon blanketing All electric drives Automated process controls Closed flare system Combined cycle technology DNV Abate notation All electric drives Automated process controls Closed flare system Hydrocarbon blanketing Combined cycle technology Pilot carbon capture plant Seawater Turbine Generator We have invested considerable time and resources with our respective clients to mitigate disruptions and reduce emissions from the two assets. As measures are still being implemented, the emissions from these assets will follow the current upward trend in FYE 2025. However, through our joint efforts, a significant decrease in fleet carbon intensity is expected to be reflected in our FYE 2026 emissions profile. Further to this, we have signed an agreement for two engineering studies aimed at retrofitting a closed flare system and a hydrocarbon blanketing system for one of our current operating assets. On another asset, we are in talks with our client to implement gas export capabilities. Due to the complexity of retrofitting technologies on our assets and supply chain constraints, these projects could take some time to materialise if we reach final investment decision with our clients. The measures we are taking are in line with our strategy to optimise our existing fleet where possible while fitting the latest emission reduction technologies on our new projects. Making great strides in lowering the emissions of our future fleet and industry as a whole The Zero Emissions FPSO Concept designs are continuously being developed and deployed across our fleet. As the industry matures and as we gain more knowledge in this space, we are able to mature the designs and evaluate how they can be adapted into our future and existing units. For example, we are currently working on detailed design engineering to close the HP flare and connect the hydrocarbon blanketing system onboard one of our assets. We are also working on the completion of FPSO Agogo where major components of the Zero Emissions Concept are being installed. Yinson Production is actively participating in the carbon value chain, with a view of diversifying our product offering while providing solutions for our clients, our industry, and beyond, to manage carbon emissions. Carbon capture and storage solutions form part of our strategy to remove the majority of the residual emissions on our operating assets. Direct air capture onshore also forms part of our strategy to reduce our residual emissions, and at the same time can be offered as a solution to other businesses to achieve their own net zero goals. Our participation in this value chain leverages our expertise in project execution and the operation of complex technical assets. Case study: Building the carbon value chain, pg 30.
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