In a stock market announcement, the group noted that in addition to this, its earlier successes included last August when the group's first floating storage and off-loading vessel (FSO), PTSC Bien Dong 01, produced its first condensate within the schedule of client.
"Since we have expanded our business into the oil and gas industry, our journey has been a remarkable experience thus far. It is exciting to witness our successful transformation from a simple logistics company to an international oil and gas player within four years," said executive chairman Lim Han Weng.
The Lam Son project is a 49:51 joint venture between Yinson and PetroVietnam Technical Services Corporation (PTSC), for the provision and chartering of the FPSO up to $737.3m. The bareboat contract is for a period of seven years with an extension option of up to three years.
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