PETALING JAYA: Yinson Holdings Bhd
’s joint venture PTSC South East Asia Pte Ltd (PTSC SEA) has secured a long-term charter contract worth an estimated US$600mil (RM2.54bil) to provide, operate and maintain a floating production, storage and offloading (FPSO) vessel for the Block B gas field development offshore Vietnam.
In a Bursa Malaysia filing, Yinson said PTSC SEA – its 49:51 joint venture with PetroVietnam Technical Services Corp – signed a 14-year firm charter, with an option to extend for up to nine more years, with Phu Quoc Petroleum Operating Company (PQPOC) yesterday.
“The total contract value, including the possible extension period, is estimated to be in the region of US$600mil,” it noted.
Yinson said PQPOC was established and nominated by Vietnam’s state oil and gas group, Petrovietnam, to undertake its rights and obligations as the operator of Blocks B&48/95 and 52/97, and the area of joint development within those blocks.
These are collectively referred to as the Vietnam Block B gas project, the company added.
