Yinson, Sumitomo in FPSO project coop deal

Malaysia’s Yinson and Japan’s Sumitomo have signed a deal to jointly pursue and collaborate in the leasing and operation of FPSO and FSO projects worldwide.

For this to materialize, the two firms on Friday, April 20, 2018, entered into a long-term and binding Memorandum of Understanding.

Under the memorandum, Yinson will oversee and conduct the overall project implementation. Sumitomo will be responsible for seeking competitive logistics and financing for any selected projects.

The MOU will be valid for a period of ten years from the date of the signing and can be extended for a further period as mutually agreed upon in writing by Yinson and Sumitomo.

“The MOU will provide an opportunity for Yinson and Sumitomo to establish collaboration based on respective party’s expertise and strengths, for venturing into the targeted business,” Yinson said.

Yinson said the new collaboration will potentially enhance the capacity of Yinson to take on larger FPSO and FSO projects and provide access to Sumitomo’s global business network and local expertize.

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2019 >>
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 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

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