Yinson bags Adoon FPSO extension

Yinson, a Malaysia-based provider of floating production units to the international oil and gas industry, has won a charter extension, for its FPSO Adoon.

The vessel, moored at the Antan field offshore Nigeria, will continue its contract with Addax Petroleum for three years, until October 16, 2018. The extension is valued at around $129 million.

This is a second extension by Addax for the FPSO.

The original contract for the FPSO was awarded on October 17, 2006, for a firm eight year period with an option to renew up to eight years After the original contract expired on October 16, 2014 it was extended for another year.