Yinson Production has held a naming ceremony for the floating storage and offloading (FSO) unit PTSC Lac Da Vang ahead of the vessel's deployment to the Lac Da Vang oil project offshore Vietnam.
The FSO vessel has been contracted to Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation, to provide storage and offloading services for the Lac Da Vang field in Block 15-1/05 offshore Vietnam.
The contract has a firm term of 10 years and includes an option to extend for up to an additional five years.
FSO PTSC Lac Da Vang is a newbuild double-hull vessel with storage capacity of about 500,000 barrels and incorporates dual-fuel systems designed to support operational efficiency and lower emissions.
The vessel was launched earlier this year at Nantong StrongWind Shipyard in China and is now undergoing final outfitting, commissioning and testing.
Yinson said the vessel is preparing for sail-away and deployment to the Lac Da Vang field, where operations are expected to begin in the fourth quarter of 2026.
"The naming of FSO PTSC LDV marks an important milestone in the journey towards deployment and first operations at the Lac Da Vang field. This project reflects the strength of our partnership with PTSC and the dedication of the teams who have worked tirelessly to bring the vessel to this stage. We look forward to supporting Vietnam's growing energy needs for many years to come," said Flemming Guiducci Grønnegaard, Chief Executive Officer of Yinson Production.
The vessel further strengthens the relationship between Yinson Production and PetroVietnam Technical Services Corporation (PTSC), which have operated offshore assets in Vietnam for more than a decade, including the FSO PTSC Bien Dong 01 since 2013 and the FPSO PTSC Lam Son since 2014.