Malaysian FPSO leasing specialist Yinson has signed another short-term charter extension for the Lam Son FPSO offshore Vietnam.
Yinson's Vietnam JV PTSC AP on Wednesday, January 15, entered into an eighth FPSO contract extension for the FPSO with PTSC, as the previous 15-day contract extension was set to expire.
The latest extension will keep the 243 meters long FPSO busy for 45 days starting from January 16 and ending February 29, 2020.
Yinson said that PTSC AP would have the right to terminate the contract subject to a 7-day notice period.
The value of the extension of the contract for the FPSo is $2.24 million (equivalent to approximately RM9.12 million).
The Lam Son FPSO, capable of producing 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.
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