A joint venture between Singapore-based Yinson Production, part of the Malaysian Yinson Group, and PetroVietnam Technical Services Corporation (PTSC) has received a bareboat charter extension for the floating, storage and offloading (FSO) unit PTSC Bien Dong 01.
The extension via the addendum entered by PTSC and PTSC SEA JV, which is 49% owned by Yinson, will see the unit operating in blocks 05-2 and 05-3 offshore Vietnam stay utilised until June 2028.
The FSO has been operating off Vietnam since 2013. The five-year extension is worth around $74.6m and PTSC has the option to further extend the charter up to June 2033.
