Yinson set to close Nigerian FPSO deal

Malaysia’s Yinson Holdings has started exclusive negotiations to supply a floating production storage and offloading (FPSO) to Nigeria’s First Exploration & Petroleum Development Company (First E&P).

The two parties have entered into a heads of terms agreement for the purpose of negotiating the supply and charter of the FPSO unit to process hydrocarbons from the Anyala & Madu fields, offshore Nigeria.

Yinson said scope of the negotiations include a bareboat charter agreement and an operations and maintenance agreement.

The initial term of the bareboat charter is expected to be a period of 7 years and First E&P may extend the period for another 8 years.

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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