The global investment firm Carlyle has announced its agreement to purchase a diverse floating production, storage, and offloading (FPSO) business from Altera Infrastructure Group, a prominent offshore energy infrastructure company. Altera, owned by Brookfield Asset Management’s private equity division, manages critical energy assets in key offshore oil regions such as the North Sea, Brazil, and West Africa. This acquisition represents Carlyle’s significant entry into the FPSO sector, crucial for offshore oil and gas production.
The portfolio includes several FPSOs and one floating storage and offloading unit (FSO), all secured by long-term contracts with major international oil and gas firms. Notable assets in the acquisition are the Petrojarl Kong FPSO and FSO Yamoussoukro, deployed in Côte d’Ivoire with Eni, supporting Africa’s first net-zero emission upstream project. The Piranema FPSO operates in Brazil, along with a 50% stake in the Altera&Ocyan joint venture’s Pioneiro de Libra FPSO, also deployed in Brazil with Petrobras.
Carlyle International Energy Partners II (CIEP II), the firm’s dedicated private equity fund for global energy investments, will finance the transaction. Bob Maguire, Co-Head of CIEP, emphasized the acquisition as a rare chance to secure a well-established FPSO business with a strong management team and long-term cashflows. The portfolio benefits from long-term contracts and is poised for success due to strong FPSO market fundamentals and partnerships with world-class operators.
This move underscores Carlyle’s strategic emphasis on energy infrastructure assets that provide stable returns and long-term growth. It also reflects the growing investor interest in offshore production technologies that align with energy transition goals, such as reducing emissions and enhancing operational efficiency.
