Yinson wins $578m FPSO contract from JX Nippon

Yinson wins $578m FPSO contract from JX Nippon

Malaysian FPSO operator has received a letter of award from JX Nippon to provide operation and maintenance services for an FPSO due to commence operations at the Layang field offshore Malaysia by the fourth quarter of 2019.

The estimated value of the operation and maintenance contract, assuming the extension options are fully exercised, is about $578m.

The contract follows Yinson being awarded the EPCIC contract for the Layang FPSO facilities last year. The charter contract is for a firm period of eight years and comes with options for 10 extension periods of one year each.

Yinson took over the contract to build and lease the Layang FPSO from THHE in 2014, after THHE was unable to complete the project due to financial issues.

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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