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Yinson divests stake in its West Africa subsidiary

Written by  OE Press Monday, 03 July 2017 12:26

Yinson Holdings has signed a heads of agreement with a consortium of Japanese companies to divest 26% stake of Yinson’s wholly-owned subsidiary, Yinson Production (West Africa). 

The deal, worth between US$104-$117 million, is with the JV comprised of Sumitomo Corp., Kawasaki Kisen Kaisha, JGC Corp. and the Development Bank of Japan. 

The agreement will see Yinson and the JV collaborate on the contract for the chartering, operation and maintenance of a floating production, storage and offloading (FPSO) facility by Eni Ghana E&P at the Offshore Cape Three Point Block project in Ghana. 

The FPSO John Agyekum Kufuor produced first oil on 22 May 2017. 

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