Yinson bags Aker Energy contracts for projects off Ghana

KUALA LUMPUR: Yinson Holdings Bhd’s units have received letter of intent for two contracts from Aker Energy Ghana Ltd to provide a floating production, storage and offloading (FSPO) vessel and also an operation and maintenance contract.

The energy services company said on Friday its units has secured a bareboat charter contract to provide the FSPO at the deepwater Tano/Cape Three Points contract area, offshore Ghana.

Yinson Gazania Operations Ltd was awarded the operation and maintenance contract.

Aker Energy operates as an offshore oil and gas operator in Ghana. It is jointly owned between Aker Capital AS and TRG AS.

Aker Energy owns 50% of the rights to the field with the remainder being held by Lukoil Overseas Ghana Tano Ltd (38%), Ghana National Petroleum Corporation (10%) and Fueltrade Ltd (2%).

“The primary term of the contracts is expected to be for a period of 10 years; and Aker Energy may extend such primary term for an additional one year period, up to five times, for a maximum duration of 15 years in aggregate or as otherwise agreed by the parties, ” it said.

Source: TheStar