[Ghana] Yinson awarded Ghana FPSO project

escveritas
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[Ghana] Yinson awarded Ghana FPSO project

Unread post by escveritas » Thu Mar 26, 2020 2:20 am

Yinson is pleased to announce that the Company has entered into a Letter of Intent (“LOI”) with Aker Energy Ghana Limited (“Aker Energy”) with the intent of awarding the contract to charter, operate and maintain a floating, production, storage and offloading (FPSO) vessel for the Pecan field development project in the Deepwater Tano/Cape Three Points (“DWT/CTP”) block, offshore Ghana.

Following the execution of the LOI, the contract period is for a firm period of ten (10) years followed by five (5) yearly extension options exercisable by Aker Energy.

The Pecan field is located in ultra-deep waters, ranging from 2,400 to 2,700 metres deep, 115 kilometres offshore Ghana. This FPSO will be Yinson’s second vessel to operate in Ghanaian waters, with the first being FPSO John Agyekum Kufuor which has been operating for ENI in the Offshore Cape Three Points Block since 2017.

Yinson’s Group Chief Executive Officer, Lim Chern Yuan, said the award is evidence of the industry’s increasing confidence in Yinson’s abilities to deliver projects on time, and thereafter to maintain excellent uptime and safety records.

“This is Yinson’s second large project award in the last 6 months, and we are gearing up for even greater growth ahead. In line with this, we have been building our resources, capacity and expertise; putting us in a strong position to meet our commitments to the projects that we have undertaken,” he said.

Yinson’s Chief Executive Officer for Production, Eirik Barclay added that the Yinson team is greatly looking forward to working with Aker Energy on this exciting and challenging project in over 2,400 metres of water depth. He is confident in Yinson’s ability to deliver the FPSO to the Pecan field on schedule.

“We are proud that Yinson has once again been chosen to execute a project that will greatly benefit the country and the people of Ghana,” he added.

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