Malaysian FPSO leasing firm Yinson has secured a one-month contract extension for its Adoon FPSO with Addax Petroleum in Nigeria.
The deal between Sinopec's Addax and Yinson's Adoon Pte. Ltd. extends the FPSO's tenure to November 16, 2022. The extension is worth $3.4 million (equivalent to approximately RM16.04 million).
The original contract for the FPSO Adoon was awarded on October 17, 2006, for a period of eight years, with an option to renew for up to eight years.
The spread-moored FPSO with a storage capacity of 1,7 million barrels of oil, is used for oil production from Addax's Block OML 123, offshore Nigeria. The FPSO can produce 60,000 barrels of oil per day.
According to Yinson's 2022 annual report, 84% of the people working aboard the FPSO were local.
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