Yinson Production JV secures US$27.3mil bareboat charter extension

KUALA LUMPUR: Yinson Holdings Bhd offshore production unit's joint venture with PetroVietnam Technical Services Corp (PTSC) has secured a 12-month extension for the bareboat charter contract for FPSO PTSC Lam Son, with a further automatic extension of six-month.

In a statement, Yinson said the addendum entered by PTSC and the JV company PTSC Asia Pacific Pte Ltd on June 29, 2023, sets an extension of charter period from July 1, 2023, to June 30, 2024, and further automatic extension until Dec 31, 2024.