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KUALA LUMPUR: Yinson
Holding Bhd is eyeing several floating production storage and offloading (FPSO) projects in its current fiscal year ending Jan 31, 2018.
Group chief executive officer Lim Chern Yuan said the company is currently evaluating three to six projects within its existing operations in Africa and Asia.
“Our order-book stands at US$3.7 billion and it can last up until 20 years,” he told a press conference after the company's AGM and EGM in Kuala Lumpur on Thursday.
Updating on Yinson's latest venture in Vietnam, he said the company was expected to finalise the value and details of the contract within six weeks.
The oil and gas provider has signed an agreement with PetroVietnam to set up a joint venture to operate a floating production unit under a contract that was awarded in April this year.
Yinson has secured a RM4.4 bilion 10-year FPSO contract from Talisman Vietnam BV, for the supply, operation and maintenance of an FPSO for Ca Rong Do field development offshore Vietnam, with five yearly extension options exercisable by Talisman Vietnam.
The company has also deployed its assets in Gabon, Nigeria, Ghana, as well as two assets in Vietnam.
On the company's offshore support vessel services segment, the company is evaluating the option to exit the business or to continue investing heavily in the segment. However, Lim declined to give a deadline or further updates.
Recently, Yinson had signed an agreement to dispose of its 26% stake in a Ghana-based FPSO unit, which will put it on a stronger cash position that can be used for expansion.
The disposal of the stake to a consortium of Japanese companies is valued at between US$104 million and US$117 million. - Bernama
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