Yinson Production has secured the charter contract extension for FPSO PTSC Lam Son for another 18 months starting from Jan 1, 2025, to June 30, 2026, with an automatic extension for an additional six months until Dec 31, 2026, subject to certain conditions.
The value of the extension of the bareboat charter contract (including the extension period) is approximately US$36.2 million, of which approximately US$17.7 million is attributable to Yinson Production.
FPSO PTSC Lam Son is jointly owned by Yinson Production (49%) and PetroVietnam Technical Services Corporation (51%), through the joint venture PTSC Asia Pacific Pte Ltd. The FPSO has been operating for PetroVietnam in Block 1-2/97 offshore Vietnam since 2014.
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