Yinson expects a strong pipeline of floater assets to come up for tender in the near term and the market could see 10 to 15 FPSO awards this year, ceo of its FPSO arm Yinson Production Eirik Barclay was quoted as saying.
According to an AmResearch report, two projects on Yinson is aiming for could see awards in the second half of this year. These are a 49% stake in the $150m Petronas-linked Ham Rong FPSO in Vietnam, and the $700m to $800m Eni-operated Offshore Cape Three Points FPSO offshore Ghana, for which Yinson has been cited as a leading contender alongside Bumi Armada.
The Ham Rong Block 106 production sharing contract is 50%-operated by Petronas and the usual suspects of Malaysian contractors are also in the running, including SapuraKencana Petroleum and Perisai Petroleum Teknologi in consortiums with Vietnam-based partners.
Meanwhile the Offshore Cape Three Points project is expected to be awarded in the fourth quarter as it needs to meet first oil and gas by 2016-2017. Barclay was quoted as saying he believed there was a “fairly high probability” that both Ham Rong and Offshore Cape Three Points would be awarded in the second half of this year.
He also confirmed that Yinson had been among the companies invited to complete the front-end engineering design for the job, which is currently ongoing. "Commercial bids are expected by the middle of the year," Barclay added.
He also said that Yinson had also received expressions of interest to pursue opportunities in marginal fields in the domestic Malaysian market. The company is understood to be in the process of applying for a Petronas licence through a 30% associate with bumiputra shareholders.
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