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Yinson awarded Brazil FPSO Marlim project

Gasoil News - Published on Fri, 18 Oct 2019

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Yinson Holding Berhad has been awarded two Letters of Intent by Petrbleo Brasileiro SA for the charter, operations and maintenance of FPSO Marlim 2, a floating, production, storage and offloading vessel for the Marlim revitalization project from Petrbleo Brasileiro SA in Brazil. The LOIs were issued to Yinson Production Pte Ltd an indirect wholly-owned subsidiary of the Yinson. Following the LOIs, the charter contract will be entered into by Yinson's Netherlands-incorporated indirect subsidiary Yinson Boronia Production BV, while the operation and maintenance contract will be entered into by YBP's Brazil-incorporated subsidiary Yinson Boronia Servigos de OperagSo Ltda.

The estimated aggregate value of the contracts is equivalent to USD5.4 billion. The contract period is for 25 years from the date of the final acceptance. FPSO Marlim 2 will be Yinson's first vessel to operate in Brazil waters, and is one of several bids in the region that the Group has entered into.

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Posted By : Rabi Wangkhem on Fri, 18 Oct 2019
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