MALAYSIA-BASED offshore energy firm Yinson Production has identified Namibia as a key emerging market for offshore oil and gas development, as it anticipates strong global demand for floating production, storage and offloading (FPSO) and floating storage and offloading (FSO) units driven by deepwater projects.
In an interview with Offshore-Energy, Yinson Production chief operating officer Jahn Atle Høgberg said the company sees long-term potential in Namibia’s offshore sector, alongside established markets such as Brazil, West Africa and Southeast Asia. He described Namibia as a new frontier where Yinson’s track record in delivery, safety and operations can add value as offshore exploration advances.
The company has reinforced its long-term commitment by signing a Memorandum of Understanding with the Petroleum Training and Education Fund (Petrofund) in November 2025. The agreement focuses on local content development through training programmes, internships, scholarships and support for local suppliers and institutions. Yinson Production is also set to open its Namibia office in January 2026.
“We now have a foothold in Namibia, which we see as an emerging offshore market with long-term potential,” Høgberg said. “As with all regions, our focus is on opportunities where our operational experience creates clear value for clients.”
Yinson Production expects the global FPSO and FSO market to remain resilient into 2026, supported by capital discipline among oil companies and sustained investment in deepwater developments. The company will continue to rely on its lease-and-operate business model, with a strong emphasis on operational excellence, safety and long-term reliability.
Yinson Production currently operates nine offshore units, with two more under construction, and has a contracted revenue backlog extending to 2050.
The company said these initiatives reflect its intention to become a long-term partner in Namibia’s offshore oil and gas sector as the country enters a new phase of energy development.
Sources: Offshore-Energy.biz/Yinson Production
PICTURED: The Agogo floating production, storage and offloading (FPSO) vessel. Source: Yinson Production
