Petroleum Africa
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Thursday, October 23, 2014
Addax has extended its contract for use of Malaysia’s Yinson Holdings Berhad’s FPSO vessel the Knock Adoon. The contract extension has a total value of approximately $39 million.
The contract for the use of the Knock Adoon was originally awarded in October 2006 for a firm eight years with an extension option of up to eight years. Knock Adoon has been operating on the Antan field in Nigeria throughout its contract period. Yinson will continue to perform its obligation under the charter contract on the FPSO in the same field for the extension period of one year until mid-October 2015. “The awarded extension is a sign of confidences of our clients in Yinson. We hope to continue our strong working relationship with all our clients and business partners,” commented Lim Han Weng, group executive chairman.
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