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

Yinson looking at three to six FPSO projects in Africa, Asia
Fresh from gaining some new liquidity from the sale of a stake in its Ghana project, Yinson Holdings is eyeing three to six floating production storage and offloading (FPSO) projects in its current fiscal year ending 31 January 2018, local media reported.

Group ceo Lim Chern Yuan said the company is currently evaluating projects within its existing operations in Africa and Asia.

“Our orderbook stands at $3.7bn and it can last up until 20 years,” he said.

In Vietnam, Lim said the company was expected to finalise the value and details of the joint venture contract with PetroVietnam to operate an FPSO in the Ca Rong Do field within six weeks.

The company has also deployed its assets in Gabon, Nigeria, Ghana, as well as two assets in Vietnam.

Speaking on the sidelines of Yinson's AGM, Lim also revealed it is evaluating options for its offshore support vessel services segment. The company needs to decide whether to exit the business or to continue investing heavily in the segment. However, Lim declined to give a deadline or further updates.

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