Malaysian FPSO provider Yinson has secured another contract extension with Addax Petroleum for a floating, production, storage, and offloading (FPSO) vessel carrying out operations in Nigeria.
Yinson revealed on 22 December that it had received a new short-term extension of the contract for FPSO Adoon, which will now last until 16 January 2023.
The 1985-built vessel, which was converted into an FPSO in 2006, has a storage capacity of 1.7 million barrels and can produce 60,000 barrels of oil per day.
The FPSO has been operating at Block OML 123 offshore Nigeria since October 2006 under an eight-year deal. The contract was extended several times, including this October .
The Malaysian firm did not reveal any other details regarding the announcement.
Addax Petroleum’s OML 123 license is located offshore approximately 60 kilometers south of the town of Calabar in the southeastern part of Nigeria, in the Gulf of Guinea. It covers an area of 90,700 acres – 367 km2 – in water depths ranging from 3 to 40 meters.
When it comes to Yinson’s other recent activities, it is worth noting that the Malaysian player at the beginning of this month entered into an agreement with Azule Energy for preliminary activities for the provision, operation and maintenance of an FPSO for the Agogo Integrated West Hub Development Project in Angola.