BUSINESS

YINSON BAGS US$5.4 BLN CONTRACTS IN BRAZIL

16/10/2019 11:53 AM

KUALA LUMPUR, Oct 16 -- Yinson Production Pte Ltd (YPPL), an indirect wholly-owned unit of Yinson Holdings Bhd, has bagged two contracts worth US$5.4 billion (US$1= RM4.1875) from Brazil-based Petróleo Brasileiro SA (Petrobras) for 25 years.

In a filing with Bursa Malaysia today, Yinson said YPPL was awarded two letters of intent (LOIs) on Oct 11, 2019 for the charter, operations and maintenance of FPSO Marlim 2, a floating, production, storage and offloading (FPSO) vessel for the Marlim revitalisation project from Petrobras in Brazil.

Following the LOIs, Yinson said Yinson Boronia Production BV (YBP), an indirect subsidiary of the company incorporated in the Netherlands, would enter into a charter contract with Petrobras for the provision of Marlim 2 FPSO.

"Yinson Boronia Serviços de Operação Ltda, a subsidiary of YBP incorporated in Brazil, will enter into a service contract with Petrobras for the provision of operation and maintenance services of Marlim 2 FPSO," it said.

Meanwhile, in a separate statement, Yinson group chief executive officer Lim Chern Yuan said FPSO Marlim 2 would be Yinson's largest project to date, and that the group had been focusing on building their resources, capacity and expertise in order to meet the project’s delivery and timeline.

“This project further cements Yinson’s position as a global FPSO player, demonstrating the industry’s increasing confidence in our ability to deliver projects on time, and thereafter to maintain our excellent uptime and safety track record," he said.

The statement also said FPSO Marlim 2 will be Yinson’s first vessel to operate in Brazil waters, and is one of several bids in the region that the group has entered into.

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy