KUALA LUMPUR (Oct 17): Yinson Holdings Bhd shares rose 1.72% this morning after it secured contracts worth US$5.4 billion from Petróleo Brasileiro S.A. (Petrobras).

At 9.13am, Yinson rose 12 sen to RM7.11, valuing it at RM7.78 billion.

Yinson said it was awarded two Letters of Intent by Petrobras for the charter, operations and maintenance of FPSO Marlim 2, a floating, production, storage and offloading vessel for the Marlim revitalization project in Brazil.

Group chief executive officer Lim Chern Yuan said FPSO Marlim 2 would be Yinson’s largest project to date, and that the group had been focusing on building its resources, capacity and expertise in order to meet the project’s delivery and timeline.