PETALING JAYA: PTSC Asia Pacific has executed a contract for the provision, charter, operation and maintenance of the floating storage and offloading (FSO) vessel for the Lac Da Vang project with Murphy Cuu Long Bac Oil Co Ltd.
PTSC Asia Pacific is a joint venture between Yinson
Production Offshore Pte Ltd (49%) and PetroVietnam Technical Services Corporation (51%).
Yinson Production said the contract has a firm period of 10 years with the option to extend up to five years and a total value of up to approximately US$416mil (RM1.8bil)
It said the FSO will be a newbuild double-hull vessel with a storage capacity of around 500,000 barrels and advanced dual-fuel systems for optimised efficiency.
Following a construction period of approximately two years, the FSO is expected to start operations in the Lac Da Vang field located in Block 15-1/05 offshore Vietnam in the fourth quarter of 2026. — Bernama
