PTSC Asia Pacific Executes Contract For FSO Vessel In Vietnam Worth Up To US$416 Mln
KUALA LUMPUR, Dec 2 (Bernama) -- PTSC Asia Pacific has executed a contract for the provision, charter, operation and maintenance of the floating storage and offloading (FSO) vessel for the Lac Da Vang project with Murphy Cuu Long Bac Oil Co Ltd.
PTSC Asia Pacific is a joint venture between Yinson Production Offshore Pte Ltd (49 per cent) and PetroVietnam Technical Services Corporation (51 per cent).
Yinson Production said the contract has a firm period of 10 years with the option to extend up to five years and a total value of up to approximately US$416 million (US$1=RM4.44).
“The Lac Da Vang FSO project is a testimony to the strength of our partnership with PTSC and our shared vision for operational excellence.
“We are proud to play a pivotal role in supporting Vietnam’s energy security,” said Yinson Production chief executive officer Flemming Gronnegaard in a statement today.
It said the FSO will be a newbuild double-hull vessel with a storage capacity of around 500,000 barrels and advanced dual-fuel systems for optimised efficiency.
Following a construction period of approximately two years, the FSO is expected to start operations in the Lac Da Vang field located in Block 15-1/05 offshore Vietnam in the fourth quarter of 2026.
-- BERNAMA