Yinson bags Atlanta FPSO project, proposes 1-for-1 bonus issue

KALA LUMPUR: Yinson Holdings Bhd's indirect wholly owned subsidiary, Yinson Acacia Ltd, has received a letter of intent (LOI) by Enauta Energia S.A. for the provision, operation and maintenance of a floating, production, storage and offloading (FPSO) asset in the Atlanta field in Santos Basin, offshore Brazil.

In a statement today, Yinson said the estimated aggregate value of the project is US$505 million (US$1=RM4.23) (including a two-year operations and maintenance agreement), with a further increase to US$1.98 billion (inclusive of a five-year extension period), should Yinson exercise the call option.