Yinson, PTSC Add Another Year to PTSC Lam Son FPSO Contract

Friday, July 2, 2021
Credit: Yinson

Malaysian FPSO provider Yinson has secured a contract extension for the PTSC Lam Son FPSO in Vietnam with Vietnam's PTSC AP.

The 243 meters long Lam Son FPSO, able to produce 15,000-20,000 barrels of oil per day (bopd), with a storage capacity of up to 650,000 barrels of oil, has been operating in Vietnam since 2014. 

Following the FPSO conversion by Singapore's Keppel in 2014, the vessel was deployed in the Thang Long and Dong Do oil fields in Cuu Long Basin.

Yinson said Thursday that the contract extension had been signed for a further period of 12 months from July 1, 2021, to June 30, 2022. 

The extension period consists of a firm period from July 1, 2021, to  December 31, 2021; and an option period from January 1, 2022, to June 30, 2022.

The value of the extension is estimated to be $18.1 million (equivalent to approximately RM75.17 million).

Categories: Offshore Energy Activity FPSO Production Asia Floating Production

Related Stories

Rex’s Akrake Set for July Drilling Ops off West Africa

Rex’s Akrake Set for July Drilling Ops off West Africa

Solstad AHTS Vessels Get Clearance for Work Offshore Brazil

Solstad AHTS Vessels Get Clearance for Work Offshore Brazil

FPSO Alexandre de Gusmão Starts Production

FPSO Alexandre de Gusmão Starts Production

Current News

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

Brava Energia Inks $65M Deal with PetroReconcavo for Natural Gas Assets

Record Offshore Wind Auction Required for UK to Meet Targets

First French Floating Wind Farm Fully Commissioned

Subscribe for OE Digital E‑News

Offshore Engineer Magazine