The CCS project, which is being developed in partnership with Harbour Energy, aims to deliver full offshore carbon capture and permanent storage. Yinson’s CFO Markus Wenker describes it as the “only realistic way of getting to net zero”. He adds: “We won't splash a billion dollars on a unit without long-term cash flow visibility.”
Singapore-based floater specialist Yinson Production is expanding into Namibia and progressing plans for a carbon capture and storage (CCS) project in Norway, with a potential IPO on the table in the medium term.
The offshore production unit of Malaysia’s Yinson Holdings is positioning itself for long-term growth with over US$19.9 billion in contracted revenue backlog through to 2050. Its CEO, Flemming Grønnegaard, confirms the company is eyeing final investment decision (FID) on its flagship Stella Maris CCS project next year, with a commercial start-up expected in 2030. “We are taking active steps to be part of the solution,” says Grønnegaard. “This will be a strong new business line.”
