18 YINSON HOLDINGS BERHAD HIGHLIGHT: The Agogo FPSO - a benchmark for project execution LEADERSHIP MESSAGES Key steps taken KEY PROJECT HIGHLIGHTS • Topside exceeding 30,000 tonnes • 13 emissions reduction technologies • 29 months project delivery, 4 months ahead of schedule • 28 million manhours executed safely Scan to watch a video of the Agogo FPSO. The delivery of Agogo FPSO reflects disciplined front-end planning, decisive execution and strong cross-functional alignment, and highlights how early preparation can materially improve outcomes in complex offshore projects. A key differentiator was how the project was set up prior to contract award. Vessel engineering work began approximately three months in advance, supported by a measured confidence in securing the contract. This early start, combined with committing over 50% of CAPEX within the first month, helped lock in critical design, procurement and contracting activities. This opened up multiple work fronts when the vessel entered the shipyard on schedule and avoided typical engineering bottlenecks. This front-loaded approach was reinforced by a tightly managed engineering programme, where key design milestones were completed within compressed timelines, minimising rework during execution. Execution discipline was equally critical. The team maintained close oversight of contractors and suppliers, including key subcontractors, supported by regular status reviews and rapid intervention when issues arose. A deliberate contracting strategy, using engineering, procurement and construction (“EPC”) capable module suppliers, reduced interface risks and enabled more efficient problem-solving during fabrication and integration. Early involvement of the operations team further strengthened delivery, particularly in areas such as asset preservation, reducing the risk of late-stage issues and ensuring a smoother transition into operations. Proactive planning and coordination allowed the project to keep its momentum despite external challenges, including the Suez Canal closure, adverse weather conditions in China and supply chain disruptions. Concept definition • Early mobilisation and pre-award engineering. • Early request for quotations and alignment on scope and contracts. • Front-loaded planning, enabling early commitments. Design and engineering • Accelerated engineering. • High early design maturity, reflecting in minimal changes during construction. • Alignment with shipyard and fabrication needs. Procurement and fabrication • Front-loading of CAPEX commitment. • Securing EPCcapable contractors, reducing interface risks. • Close oversight of contractors and suppliers. Execution and integration • Frequent tracking and rapid issue resolution. • Strong coordination across yards and modules. • Early operations involvement. Business outcomes Earlier recognition of operational revenues Early delivery incentives Strengthened track record and market positioning Accelerated cash flow realisation Greater capital efficiency Enhanced client confidence
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