Yinson, First E&P in Nigeria FPSO talks

Illustration only: An FPSO offshore Nigeria. Source: Wikimedia under Public Domain license

Malaysia’s FPSO specialist Yinson is in talks for a potential supply of an FPSO for a project in Nigeria.

Yinson said on Thursday it had entered into a Heads of Terms with its indirect subsidiary Yinson Operations & Production West Africa and the Nigerian company First E&P.

The companies will engage in exclusive negotiations for the potential supply and charter of a floating production storage and offloading unit to process hydrocarbons from the Anyala & Madu fields under Oil Mining Leases 83 & 85, offshore Nigeria.

According to Yinson, First E&P, established in 2011, owns 40% of the rights to the fields with the remainder being held by Nigerian National Petroleum Corporation (“NNPC”).

Yinson said that, subject to negotiations, it would supply an FPSO for the initial term of the bareboat charter of seven years. First E&P would have an option to extend the term for another eight years.

Yinson expects to seal the deal by June 30, or at a later date mutually agreed by the parties.

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

OPITO Global – The Safety and Competence Conference

OPITO Global – The Safety and Competence Conference, is the only international event focused on debating…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event. It is unique in bringing together the oil & gas…

read more >

Ocean Energy Europe Conference & Exhibition 2018

The annual Ocean Energy Europe Conference & Exhibition is the meeting point for the whole ocean energy sector…

read more >

Africa Oil Week 2018

The event brings together governments, national oil companies, investors, corporate players, independents and financiers – giving them…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply