Yinson Starts Talks on Nigerian FPSO Deal

Malaysia’s FPSO & FSO service provider Yinson Holdings has started exclusive negotiations for a potential supply and charter of a floating production storage and offloading (FPSO) unit off Nigeria.

The company unveiled the plans to provide an FPSO to the country’s First Exploration & Petroleum Development Company (First E&P) for processing hydrocarbons from the Anyala & Madu fields under Oil Mining Leases 83 & 85, offshore Nigeria.

Yinson’s subsidiary, Yinson Production, entered into a Heads of Terms (HOT) with Yinson Operations & Production West Africa Limited and First E&P to negotiate the terms of a bareboat charter and an operations and maintenance (O&M) agreement.

The initial term of the bareboat charter is expected to be a period of 7 years, Yinson said, adding that First E&P would have the option to extend the charter for another 8 years in total.

The parties are expected to finalize the agreements by the end of June 2018.

First E&P owns 40% of the rights to the fields with the remainder being held by Nigerian National Petroleum Corporation (NNPC).

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Petrochemical Supply Chain & Logistics Conference & Exhibition

The Petrochemical Supply Chain & Logistics Conference & Exhibition (15 – 16th November, Houston) is positioned at the forefront of the booming Petrochemical industry in North America.

This industry leading event is regarded as the most significant meeting place for supply chain & logistics professionals, where they meet to do business.

More Info

read more >

DREDGING FOR SUSTAINABLE INFRASTRUCTURE

The two-day-long programme offers six highly interactive sessions with contributions from…

read more >