Malaysian floater operator Yinson has successfully completed the 16-year contract for the 1985-built FPSO Adoon, which has been operating at Block OML 123 offshore Nigeria.
, which has been operating at Block OML 123 offshore Nigeria.The contract with Sinopec’s Addax Petroleum Development had an original term of eight years until 2014, with the option to extend by up to eight more years until 2022. The FPSO has since been chartered through several short-term agreements.
Addax had the option to purchase the unit at the end of the contract period and the sale was completed earlier this month, Yinson said in a regulatory filing.
The FPSO was built by Yinson’s predecessor company, Fred. Olsen Production, for Addax and commenced operations in October 2006. The vessel has produced over 212m barrels of oil and clocked more than 6m offshore manhours over its contract tenure.
