New extension agreed for Yinson’s Vietnam FPSO
- Business & Finance
Malaysian FPSO provider Yinson has continued its string of extensions for the FPSO PTSC Lam Son, operating offshore Vietnam, with another short-term deal, which will keep the FPSO on contract until the end of February.
According to Yinson’s statement on Thursday, on January 15, 2020, Yinson’s Vietnam JV PTSC AP has entered into an eighth addendum of an interim contract with PTSC to further extend the tenure of the contract for a period of forty-five days.
The extension is from January 16, 2020, until February 29, 2020. The value of the eighth addendum is estimated to be $2.24 million.
PTSC AP has the right to terminate the eighth addendum subject to a seven-day notice period.
The previous addendum started on January 1, 2020, and expired on January 15.
The Lam Son FPSO is capable of producing 15,000-20,000 barrels of oil per day (bopd) and has a storage capacity of up to 650,000 barrels of oil. The FPSO has been operating at the at Thang Long – Dong Do fields offshore Vietnam since 2014.
Offshore Energy Today Staff
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