Sevan Marine wins EPC contract for FPSO Yinson Production
- Business & Finance
Sevan Marine’s subsidiary, KANFA AS, has been awarded a Letter of Award (LOA) for the Engineering, Procurement and Construction (EPC) contract for four process modules for the FPSO Yinson Production.
The FPSO Yinson Production will be deployed at the recently sanctioned Offshore Cape Three Points Block (OCTP), located in the Tano Basin, around 60 km off the cost of Ghana.
Malaysia’s Yinson was awarded a contract for the chartering, operation and maintenance of an FPSO facility by Italy’s Eni in January 2015.
According to Sevan Marine, the EPC contract is expected to have a duration of 15 months with a contract value of approximately $50 million.
The OCTP Block is operated by ENI’s subsidiary ENI Ghana and the joint venture partners; Vitol Upstream Ghana Limited and Ghanaian state-owned Ghana National Petroleum Company.