Yinson secures fresh extension for Vietnam FPSO

Malaysia’s FPSO provider Yinson has been awarded a contract extension for its Lam Son FPSO for operations on the Lam Son field, located offshore Vietnam.

Yinson said on Monday it had, through its Vietnam JV PTSC AP, entered into a fourth addendum to its interim contract with Vietnam’s PTSC to further extend the tenure of the contract for a period of one month starting from October 1, 2019, to October 31, 2019.

PTSC AP is a joint venture company owned by Yinson and PetroVietnam Technical Services Corporation (PTSC) holding a 49% and 51% interest in the JV, respectively.

The value of the fourth addendum is estimated to be $1.54 million (equivalent to approximately RM6.45 million).

The previous addendum was agreed at the end of July and it expires today, September 30.

The Lam Son FPSO is capable of producing 15,000-20,000 barrels of oil per day (bopd) and has a storage capacity of up to 650,000 barrels of oil. The FPSO has been operating at the Lam Son field offshore Vietnam.

Offshore Energy Today Staff

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