Yinson Gets Extension for Vietnam FPSO

Malaysian floater company Yinson Holdings Bhd has secured another extension of its floating production storage and offloading (FPSO) with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field, offshore Vietnam.

According to the second addendum to the interim contract, the FPSO Lam Son continue to work with PTSC until July 31.

"Save for the extension of the tenure, the terms under the interim contract (as may be amended, varied or supplemented from time to time) remain unchanged," the FPSO service provider said in a stock exchange announcement.

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

The value of the Second Addendum is estimated to be $1.54 million, it said.

The second addendum is expected to have positive impact on the earnings and net assets per share of Yinson Group for the financial year ending January 31, 2020.

Current News

SLB Narrowly Beats Quarterly Profit Estimates

SLB Narrowly Beats Quarterly P

Vard Books Construction Order for CSOV Pair

Vard Books Construction Order

ABL to Deliver Grid Works for 600MW French Offshore Wind Farm

ABL to Deliver Grid Works for

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Cadeler Adds Wind Keeper WTIV

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine