Yinson in talks with Talisman to supply FPSO

KUALA LUMPUR: Yinson Holdings Bhd’s unit is in talks with Talisman Vietnam 07/03 B.V. (TLV) to supply a vessel for the Ca Rong Do field development in Block 07/03 in the Eastern Sea Offshore Vietnam.

Yinson said on Monday that TLV had issued a letter of intent to enter into exclusive talks with Yinson Production Pte Ltd to provide the floating production, storage and offloading (FPSO) facility.

“The letter of intent is a confirmation of TLV’s intention to award the contract to Yinson Production,” it said.

However, this would hinge on the successful negotiation and finalisation of the terms and condition of the contract, the commercial arrangement and approvals of the relevant authorities, which is expected to be completed by April 2017.

TLV is a unit of Repsol S.A. and it is the operator of the field. 

The other owners in the Ca Rong Do field are PetroVietnam, PetroVietnam Exploration Production Corporation (PVEP), Mubadala Petroleum, and Pan Pacific Petroleum.