Yinson said in a stock market announcement that TLV had issued a letter of intent to enter into exclusive talks with its unit Yinson Production to provide the FPSO.
“The letter of intent is a confirmation of TLV’s intention to award the contract to Yinson Production,” it said.
Finalisation of terms and conditions, commercial arrangements and approvals of the relevant authorities are expected to be completed by April.
TLV is a unit of Repsol and it is the operator of the field.
TLV is owner operator of the Ca Rong Do field and other stakeholders include PetroVietnam, PetroVietnam Exploration Production Corporation (PVEP), Mubadala Petroleum, and Pan Pacific Petroleum.
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