Yinson and PetroVietnam JV Get FSO Contract for Vietnamese Field

Monday, December 2, 2024

PTSC Asia Pacific, a joint venture between Yinson Production and PetroVietnam Technical Services Corporation (PTSC), has secured a contract for the provision, charter, operation and maintenance of the floating storage and offloading (FSO) vessel for the Lac Da Vang project offshore Vietnam.

PTSC Asia Pacific executed the contract with Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation.

The FSO will be a newbuild double-hull vessel with storage capacity around 500,000 barrels and advanced dual-fuel systems for optimized efficiency.

Following a construction period of approximately two years, the FSO is expected to start operations in the Lac Da Vang field located in Block 15-1/05 offshore Vietnam in the fourth quarter of 2026.



The project further strengthens Yinson Production’s position as a leading independent owner and operator of offshore asset and marks another milestone in Yinson Production’s long-standing relationship with PTSC.

Through PTSC Asia Pacific and another joint venture, Yinson Production and PTSC have successfully been operating offshore assets in Vietnam for over a decade with the FSO PTSC Bien Dong 01 operating since 2013 and the FPSO PTSC Lam Son operating since 2014.

“This new project underscores Yinson Production’s commitment to delivering energy solutions that meet the evolving needs of our clients and the industry. The Lac Da Vang FSO project is a testimony to the strength of our partnership with PTSC and our shared vision for operational excellence. We are proud to play a pivotal role in supporting Vietnam’s energy security,” said Flemming Grønnegaard, Chief Executive Officer of Yinson Production.

Categories: Offshore Vessels Industry News Activity FSO Asia Oil and Gas

Related Stories

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Eneos Scoops Jack-Up Drilling Contract Offshore Vietnam

CNOOC Makes Major Oil and Gas Discovery in South China Sea

EnerMech Names APAC Regional Chief

Shell Hires Noble’s Drillship for Work in Southeast Asia

Marine Masters Secures Wellhead Platforms Installation Job Off India

Initial Drilling Results Raise Questions on South Korea’s Offshore Gas Viability

Japan's Mitsui Eyes Alaska LNG Project

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Current News

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

TMC Books Compressors Orders for FPSO and LNG Vessels

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

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