Yinson in talks for another Nigeria FPSO project

True to its projections, Malaysia’s Yinson Holdings announced that it has entered negotiations with a Nigerian company to supply a floating production storage and offloading (FPSO) unit.

Yinson said in a stock market announcement that its Yinson Operations & Production West Africa unit had entered into a heads of terms with Nigeria’s First Exploration & Petroleum Development Company (First E&P) to negotiate the potential supply and charter of the FPSO.

The FPSO will process the hydrocarbons from the Anyala & Madu fields under Oil Mining Leases 83 & 85. First E&P owns 40% of the rights to the fields with the remainder being held by Nigerian National Petroleum Corporation (NNPC).

Negotiations will commence for what is expected to be a seven-year fixed with eight-year optional extension, bareboat charter and operations and maintenance agreement.

Read More: Yinson looking at three to six FPSO projects in Africa, Asia

Posted 14 June 2018

© Copyright 2018 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Vincent Wee

Asia Editor, Seatrade Maritime News

Register here for free