Malaysia's Yinson Production has held a steel cutting ceremony for a floating storage and offloading (FSO) unit, bound for deployment at Block B gas field offshore Vietnam.
The steel cutting ceremony, held on December 19, 2025, marked the construction start of the FSO Block B.
The FSO is being built at Nantong Strongwind Shipyard in China. The unit is designed to be stationed for 25 years without drydocking and is capable of storing up to 350,000 barrels of condensate.
The FSO Block B, designed to be stationed for 25 years without drydocking and capable of storing up to 350,000 barrels of condensate, is expected to be operational by the third quarter of 2027 and will serve the Block B gas field, offshore Vietnam.
Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), secured a lease and operate contract the FPSO back in July 2025, from the Phu Quoc Petroleum Operating Company (PQPOC), the operator of Blocks B 48/95 and 52/97, on behalf of state-run oil and gas firm Petrovietnam.
PTSC SEA is jointly owned by Yinson Production (49%) and PetroVietnam Technical Services Corporation (51%).
The Block B gas project, located in the southwest offshore region of Vietnam, aims to supply over 5 billion cubic metres of gas per year to major power complexes in Ca Mau and O Mon provinces. It plays a strategic role in meeting the country’s growing energy demand.