Addax Petroleum Development (Nigeria) has extended its contract on Yinson Holdings’ floating production storage and offloading (FPSO) unit Adoon by a further three years until October 2018. The contract extension is valued at around $129m (RM531m).
This is the second time Addax has extended its charter of on Adoon, which has been deployed in Nigeria’s Antan offshore oilfield for the duration of its contract so far.
The FPSO’s original contract was awarded for a firm eight-year period in October 2006, with an option to renew for up to eight years.
Addax, a subsidiary of Sinopec, extended the unit’s employment by a further year in October 2014 for $39m (RM127m).