Yinson Holdings Berhad (“Yinson”), through its joint venture company with PetroVietnam
Technical Services Corporation (PTSC) and PTSC Asia Pacific Pte Ltd (PTSC AP), has received a 12- month extension for the Bareboat Charter Contract for FPSO PTSC Lam Son.
The extension is part of the addendum entered into by PTSC and PTSC AP on 30 June 2022, which sets a 12-month Firm Period from 1 July 2022 to 30 June 2023.
The value of the Bareboat Charter Contract for the 12-month tenure is estimated at USD18.1 million (RM79.8 million). PTSC AP is 49% and 51% owned by Yinson and PTSC respectively.
Yinson Group Chief Executive Officer Lim Chern Yuan said, “We have forged a close working relationship with our partners in this joint venture when it first commenced back in 2017. We are delighted with the contract extension announcement and the Group will continue providing high uptime and excellent safety
record with FPSO PTSC Lam Son.”
