Yinson Holdings secures FPSO contract in Nigeria

Malaysia’s Yinson Holdings has been awarded contracts from First Exploration & Petroleum Development Company (First E&P) for the charter, operations and maintenance of a floating production storage and offloading (FPSO) vessel at the Anyala & Madu fields in Nigeria.

The period of the bareboat charter contract and O&M contract is seven years and First E&P is entitled to extend the contract by one extension period of 24 months and up to six further extension periods of 12 months each.

The total value of the contracts is around $902m, assuming the extension options are fully exercised.

The FPSO Allan, which just finished nearly ten years of operations at the Olowi Field in Gabon, will be deployed for the new contract. It will be renamed FPSO Abigail-Joseph and is expected to commence operations at the fields by the fourth quarter.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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