Yinson Production, the offshore unit of Yinson Holdings, said it plans to expand its operations into Namibia as well as an initial public offering within the next three to five years.
Flemming Gronnegaard, chief executive at Yinson, disclosed this recently, citing the attractiveness of one of Africa’s promising oil frontiers.
“Namibia is one of the new markets. It’s maturing as we speak,” Gronnegaard said.
He said Yinson is interested in working with oil drillers and regulators in Namibia to produce the country’s first oil before 2030, which would allow contracts for its units to be placed by 2027.
Why Namibia is attractive to Yinson
Since 2022, Namibia has seen a series of deepwater oil discoveries in the Orange Basin, one of Africa’s most promising geological formations.
These finds are not just speculative—they’ve revealed commercially viable crude with significant production potential.
Oil majors like Shell, TotalEnergies, and QatarEnergy are betting big on the country, which suggests a big market for Yinson.
Yinso plans to start an office in the country in January 2026 to start training local crews.
The company is evaluating about 20 projects and expects to sign new contracts within 12 to 18 months, Gronnegaard said.
This coincides with Energy in Africa’s earlier reported in May of Namibia’s plans to secure at least two Final Investment Decisions by 2027.
Petroleum commissioner Maggy Shino had said: “..we are going to get at least two FIDs that are going to come on board in the next two years.”
Beyond Namibia, Yinson is currently also bidding for projects in other locations including replacing a unit at PTTEP’s Kikeh deepwater field in Malaysia and TotalEnergies’ Unity FSO in Nigeria.
Its recent major work in Africa has been Angola’s Agogo FPSO, built in partnership with Azule Energy.
The facility is equipped with carbon reduction technologies, including the first pilot post-combustion carbon capture system on an FPSO.
It has production capacity of up to 175,000 bpd, although it is yet to reach that capacity as of September 2025.
Yinson signed a 15-year charter valued at $5.3 billion with Azule for the project.
What you should know about Yinson
Yinson Production is a core business of Yinson Holdings Berhad, a Malaysian energy infrastructure group.
It designs, builds, leases, and operates Floating Production Storage and Offloading (FPSO) vessels for oil exploration and production companies.
The company currently operates in over 10 countries with a fleet of 9 FPSOs and an order book exceeding $22 billion through 2048
Over the years, it has targeted energy firms in markets like Brazil, Southeast Asia and West Africa.
In January, it received a $1billion investment in a global funding round that included investments in redeemable convertible preferred shares from the Abu Dhabi Investment Authority and British Columbia Investment Management.
Gronnegaard said an IPO is among options being considered after the company completes its current capital expenditure cycle.
“The choice of option will depend on, for instance… the market sentiment and the valuation we will be able to command,” he added.
