Yinson Production’s Southeast Asia-bound FSO gets its name

June 24, 2026, by Melisa Cavcic

Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has held a naming ceremony for a floating storage and offloading (FSO) unit slated for deployment at an oil field off the coast of Vietnam, Southeast Asia.

FSO naming ceremony; Source: Yinson Production

Yinson Production celebrated the naming of the FSO PTSC Lac Da Vang (FSO PTSC LDV) on June 23, marking what is seen as a significant milestone ahead of the vessel’s deployment to the Lac Da Vang project offshore Vietnam.

The unit is contracted to Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation, to provide storage and offloading services for the Lac Da Vang field in Block 15-1/05, following a deal for a firm period of ten years with an option to extend for up to an additional five years.

Almost a year after a steel-cutting ceremony was announced in February 2025 and keel laying in July 2025, OceanSTAR Elite Group held the launching ceremony for the vessel at Nantong Strongwind Shipyard in China on February 6, 2026.

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The naming ceremony is interpreted to signify another significant milestone in the vessel’s construction, reflecting the collective efforts of the project teams, partners, and stakeholders involved in bringing the project to this stage.

The event was attended by representatives from Yinson Production, PTSC, Murphy Oil Corporation, PetroVietnam, Ocean Marine & Offshore Investment, Nantong StrongWind Shipyard, and other project stakeholders.

Designed as a newbuild double-hull vessel with a storage capacity of approximately 500,000 barrels, the FSO PTSC LDV incorporates advanced dual-fuel systems to support operational efficiency while contributing to lower emissions.

According to Yinson Production, the unit has been designed with a strong focus on safety, operational excellence, and reliability. As the project progresses through the final stages of outfitting, commissioning, and testing, the FSO PTSC LDV is preparing for sail-away.

Upon arrival in Vietnam, the FSO will be deployed to the Lac Da Vang field, where it is expected to commence operations in the fourth quarter of 2026. The FSO PTSC LDV is further expected to strengthen the long-standing relationship between Yinson Production and PetroVietnam Technical Services Corporation (PTSC).

Through PTSC Asia Pacific and other joint ventures, the two companies have been operating offshore assets in Vietnam for more than a decade, including the FSO PTSC Bien Dong 01 since 2013 and the FPSO PTSC Lam Son since 2014.

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Flemming Guiducci Grønnegaard, Chief Executive Officer of Yinson Production, commented: “The naming of FSO PTSC LDV marks an important milestone in the journey towards deployment and first operations at the Lac Da Vang field.

“This project reflects the strength of our partnership with PTSC and the dedication of the teams who have worked tirelessly to bring the vessel to this stage. We look forward to supporting Vietnam’s growing energy needs for many years to come.”