Yinson announced that the company have been awarded their first FPSO project in Brazil.
In the announcement to Bursa Malaysia, Yinson Production Pte Ltd (YPPL), an indirectly wholly owned subsidiary of the company, has been awarded two Letter of Intent (LOIs) by Petróleo Brasileiro S.A. (“Petrobras”) for the charter, operation and maintenance (O&M) of Marlim 2 FPSO.
The FPSO is said to be deployed to Marlim Field located offshore Brazil in the north-eastern part of the Campos Basin
First oil is planned for 2023, for a charter duration of 25 years. The vessel is designed to process 70,000 barrels of oil per day and has a storage capacity of 1.4 million barrels.
The estimated aggregate value of the Contracts is approximately equivalent to USD5.4 billion (equivalent to approximately RM22.7 billion), subject to the terms and condition of the Contracts.
