Yinson Gets Charter Extension for FPSO in Vietnam

OE staff
Tuesday, January 4, 2022

Malaysian FPSO supplier Yinson announced on Monday it secured a six-month extension for the bareboat charter contract for the FPSO PTSC Lam Son

The 243 meters long Lam Son FPSO, able to produce 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.

The extension, received through Yinson's joint venture company with PetroVietnam Technical Services Corporation (PTSC), PTSC Asia Pacific Pte Ltd (PTSC AP), is part of the addendum entered into by client PTSC and PTSC AP in June 2021, which sets a six-month firm period from July 1, 2021 to December 31, 2021, and a six-month option period from January 1, 2022 to June 30, 2022, which shall be automatically granted if no notice of termination is received.

The value of the bareboat charter contract for the six-month option period extension is estimated at $9 million (RM37.5 million). PTSC AP is 49% and 51% owned by Yinson and PTSC respectively.

Categories: Contracts Activity FPSO Production Asia Floating Production Vietnam

Related Stories

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Shell’s Brazil-Bound FPSO Starts Taking Shape

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Seatrium Secures ABS Backing for Deepwater FPSO Design

Marco Polo Picks Salt Ship Design for Next-Gen Offshore Energy CSOV

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

China Starts Production at Major Oil Field in Bohai Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Current News

Sponsored: UAE Breaks Ground on World First Gigascale Renewable Energy Project

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com