YINSON-PTSC JV GETS 12 MONTH CONTRACT EXTENSION FOR FPSO PTSC LAM SON
KUALA LUMPUR, July 1 (Bernama) -- Yinson Holdings Bhd, through PTSC Asia Pacific Pte Ltd (PTSC AP), its joint-venture company with PetroVietnam Technical Services Corporation (PTSC), has received a 12-month extension for the bareboat charter contract (BBC) for FPSO PTSC Lam Son.
The extension is part of the addendum entered into by client PTSC and PTSC AP on June 30, 2022, which sets a 12-month firm period from July 1, 2022 to June 30, 2023.
Save for the extension of the tenure, the terms under the BBC charter contract remained unchanged, Yinson said.
“The value of the second addendum is estimated to be US$18.1 million (equivalent to approximately RM79.8 million),” it said in a filing with Bursa Malaysia on Friday.
It said the second addendum will not have any effect on the share capital and shareholding structure of the company. However, it is expected to have positive impact on the earnings and net assets per share of Yinson Group.
-- BERNAMA
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