Malaysia-based Yinson Holdings clinched a bareboat charter contract worth MYR1.65bn ($516.11m) from Petrovietnam Technical Services Corporation (PTSC) to provide a floating production, storage and off-loading (FPSO) facility, Seatrade Asia online reports.
PTSC will onward charter to Lam Son Joint Operating Company.
The tenure of the contract is for a period of seven years, having the option to extend for a further three years at a value of MYR705.49m.
“With the expansion of the Yinson group's marine transportation services, the group will reduce its dependency on trading activities and land transport services,” Yinson said.
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