PETALING JAYA: Yinson Holdings Bhd’s indirect wholly-owned subsidiary, Yinson Production Pte Ltd, has been awarded two letters of intent (LOI) by Petróleo Brasileiro SA (Petrobras) 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.
The aggregate value of the contracts is estimated at US$5.4 billion (RM22.7 billion), and the contract period is for 25 years from the date of the final acceptance.
Yinson Group CEO Lim Chern Yuan (pix) 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.
Following the LOIs, the charter contract will be entered into by Yinson’s Netherlands-incorporated indirect subsidiary Yinson Boronia Production B.V (YBP), while the operation and maintenance (O&M) contract will be entered into by YBP’s Brazil-incorporated subsidiary Yinson Boronia Serviços de Operação Ltda.
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.
