Yinson awarded FPSO contract extension in Vietnam

Malaysian floater operator Yinson has been awarded a charter extension for the floating production storage and offloading (FPSO) unit PTSC Lam Son offshore Vietnam for an estimated $9m.

The extension is in direct continuation of the deal Yinson’s joint venture PTSC Asia Pacific entered into to extend the tenure of its bareboat charter with PetroVietnam Technical Services Corp (PTSC) for up to one year.

The deal is for a firm period of six months from January 2022 to June 30, 2022.

Yinson and PetroVietnam formed a 49/51 joint venture in 2017 to jointly undertake the execution of the charter contract. The initial $123m contract commenced in July 2017 and was extended in July last year.