Yinson set to close Nigerian FPSO deal

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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