Malaysia’s Yinson has secured an FPSO contract with Talisman Vietnam. The FPSO will be deployed at Talisman Vietnam’s Ca Rong Do field.
The contract is for 10 years with five extension options. According to Yinson, the total value of the bareboat charter is approximately $1.0 billion, options included.
Talisman is a subsidiary of the Spanish oil company Repsol, and it is the operator of the Ca Rong Do Field.
The other partners in the field are PetroVietnam, Mubadala Petroleum, and Pan Pacific Petroleum.
Yinson said one of the requirements for the signing of the contract was a novation agreement with Talisman and PetroVietnam Technical Services Corporation (PTSC) for the novation of all rights and liabilities under the contract to PTSC.
According to Yinson, the deal is expected to contribute positively to the results of the Yinson Group starting from the financial year ended January 31, 2020.