Friday 29 Mar 2024
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KUALA LUMPUR (April 27): Shares of integrated offshore services provider Yinson Holdings Bhd rose 4.42% this morning after its wholly-owned unit Yinson Clover Ltd (YCL) was awarded a floating production, storage and offloading (FPSO) charter contract worth US$1 billion (RM4.4 billion).

At 9.10am, Yinson rose 14 sen to RM3.31 with 444,400 shares traded.

The contract, awarded by Repsol SA's subsidiary Talisman Vietnam 07/03 BV (TLV), entails the supply, operation and maintenance of an FPSO facility for the Ca Rong Do field development located in Block 07/03 offshore Vietnam.

Repsol is the operator of the field, while PetroVietnam, PetroVietnam Exploration Production Corp, Mubadala Petroleum and Pan Pacific Petroleum are the other owners of the Ca Rong Do field.

The group said the contract is for a firm period of 10 years, with five yearly extension options exercisable by TLV.

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