Petroleum Africa
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Monday, June 25, 2018
Yinson Holdings out of Malaysia began exclusive negotiations for a potential supply and charter of a FPSO unit offshore Nigeria.
The company unveiled the plans to provide an FPSO to the country’s First Exploration & Petroleum Development Company (First E&P) for use on the Anyala & Madu fields located on OMLs 83 & 85.
Yinson’s subsidiary, Yinson Production, entered into a Heads of Terms with Yinson Operations & Production West Africa Limited and First E&P to negotiate the terms of a bareboat charter and an operations and maintenance (O&M) agreement.
The initial term of the charter is expected to be a period of seven years according to Yinson. The Malaysian firm also said that First E&P would have an option to extend the charter for another eight years.
The agreements are expected to be finalized by the end of the month.
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