Yinson picks up $129m three-year FPSO contract extension from Addax


Growing Malaysian FPSO player Yinson Holdings has added a three-year charter extension contract on its FPSO Adoon from Addax Petroleum Development (Nigeria) Ltd worth MYR531m ($129m) job from Addax Petroleum Development (Nigeria) Ltd, the company said in a stock market announcement.

The contract extension is effective from 17 October. This is the second contract extension after Addax first took up a one-year extension option last October for $39m after the original firm eight-year contract expired. Addax has options to renew up to a further eight years from 2014.

Source from : Seatrade Global