PETALING JAYA: Yinson Holdings Bhd
’s floating storage, production and offloading (FPSO) vessel arm, Yinson Production, has received an extension of a bareboat charter contract for FPSO PTSC Lam Son in Vietnam.
Initially scheduled for contract expiry on Jan 1, 2025, the contract has been extended for a period of 18 months starting Jan 1, 2025 to June 30, 2026. An automatic extension for an additional six months until Dec 31, 2026 was also awarded to the group.
Yinson Production said in a statement that the value of the extension of the bareboat charter contract, including the extension period, is about US$36.2mil. About US$17.7mil of the amount will be attributable to the group.
FPSO PTSC Lam Son is jointly-owned by Yinson production and PetroVietnam Technical Services Corp, with each holding a 49% and 51% stake in PTSC Asia Pacific Pte Ltd via a joint venture.
