Amplus Energy expands fleet with acquisition of iconic Petrojarl I FPSO, strengthening its market position

Amplus Energy Services Ltd has entered into an agreement to acquire the purpose-built Floating Production Storage and Offloading (FPSO) vessel Petrojarl I, marking a significant milestone and introducing a distinctive new capability to the market.  

Amplus has acquired the Petrojarl I from UK-based Altera Infrastructure, a global energy infrastructure services group focused on the ownership and operation of offshore energy assets. Fully classed, the vessel has recently completed a successful deployment in Brazil.  

With this acquisition, Amplus can now offer a more flexible solution to the market, with a ready-to-deploy unit capable of meeting immediate and unique customer needs and demands. Notably, this marks Amplus’ initial vessel ownership, positioning the company to expand this strategy and meet growing market demands.  

To date, Amplus has focused on delivering innovative field development solutions, offering vessel design and leasing options over direct ownership. With expertise in subsurface analysis, technical development, operator engagement, safety, and FPSO operations, providing comprehensive solutions and strategic partnerships. 

Petrojarl I is available for swift deployment in early production system applications, extended well tests, and standalone marginal field developments. Additionally, the vessel is ideal for cost-efficient, lower-production operations and can support both early-phase and tail-phase production in regions such as Vietnam, Suriname, Brazil, and West Africa. The vessel requires minimal modification to be field-ready for specific customer needs. 

Amplus Managing Director, Steve Gardyne, dubbed it a “hugely significant” move for the organisation, saying: “This vessel is unquestionably the most flexible and most deployed FPSO in history – and Amplus now has the opportunity to apply our experience and approach to steward it safely and successfully for years to come. The addition of this vessel strengthens our ability to meet growing market demands and ensure we are well-positioned to address client needs.  

“Furthermore, 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. It also underscores our commitment to investing in the business and applying our considerable experience and expertise to deliver exceptional value to our clients.” 

Ian Herd, Executive Director at Amplus Energy, added: “We have strategic 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.  

“The acquisition marks a significant advancement for Amplus Energy and we look forward to meeting the evolving needs of the industry.”   

Chris Brett, President of Altera Infrastructure Production, said: “Petrojarl I was Altera’s very first FPSO and the industry’s first newbuild harsh environment FPSO achieving first oil in 1986. It has been operated by Altera on 11 fields for many years. We wish Amplus Energy and all who will serve on Petrojarl I in the years ahead much success and safe operations.“