Monday, 19 Aug 2019
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INVESTMENT

Yinson extends stay in Vietnam for 6 more months

Updated at Tuesday, 01 Jan 2019, 23:27
The Hanoitimes - 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.
Malaysia’s Yinson, through its Vietnam joint venture PTSC AP, has entered into an addendum to the interim contract with Vietnam’s PTSC to extend the charter of the FPSO PTSC Lam Son for the petroleum operations within the Lam Son field, offshore Vietnam for another six months, according to Offshore Energy Today.
 
FPSO Lam Son. Photo: PTSC
FPSO Lam Son. Photo: PTSC
The FPSO charter, which was set to expire on December 31, will keep the unit working for PetroVietnam Technical Services Corporation (PTSC) until June 30, 2019.

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.

PTSC AP is a joint venture company owned by Yinson and PetroVietnam Technical Services Corporation (PTSC) each holding 49% and 51% interest in it, respectively.

According to Yinson, the value of the interim contract is approximately US$27.3 million, based on the December 31, 2018, expiration date.
Minh An
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