Yinson completes 16-year contract for FPSO Adoon, offshore Nigeria

KUALA LUMPUR: Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has announced the completion of a 16-year contract for FPSO Adoon, which has been operating at Block OML 123 offshore Nigeria.

In a statement,Yinson said the contract had an original period of eight years with an option to extend by up to eight more years until 2022.

Following the end of this period, the contract was further extended by client Addax Petroleum Development (Nigeria) Ltd via consecutive monthly extensions until January 2023.

“It fills us with pride to know that FPSO Adoon has been able to contribute significantly to Nigeria’s energy landscape for the past 16 years, positively impacting the local economy and wellbeing of the community.

"This has been made possible by our passionate team at Port Harcourt, with unwavering support from our client Addax, the regulatory bodies in Nigeria and the local community and supply chain. Deepest appreciation to everyone who played a part in FPSO Adoon’s success story," said Yinson offshore production CEO Flemming Grønnegaard.

FPSO Adoon was constructed by Yinson Production's predecessor company, Fred Olsen Production ASA, for Addax and commenced operations in October 2006.

According to Yinson, the asset has provided safe and reliable operations to the client with an average technical uptime above 99.9% and no Lost Time Injuries (LTIs) for the last 11 years.

FPSO Adoon has produced over 212 million barrels of oil, and clocked more than six million offshore manhours over its contract tenure.