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

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

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

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

Yinson Production Closes $1B Investment to Drive Further Growth

CNOOC Starts Production at Offshore Field in South China Sea

Current News

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore, SLB to Optimize FPSO Performance Using AI

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

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

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

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