Malaysian firm wins $39m Nigeria FPSO extension contract

Malaysian floating production storage and offloading (FPSO) vessel specialist Yinson Holdings has secured a $39m one-year contract extension for its Knock Adoon FPSO operating in the Antan field offshore Nigeria, from Addax Petroleum Development (Nigeria) Ltd, it said in a stock market announcement.

The contract with Sinopec unit Addax was originally awarded in 2006 for eight years, with further extension options.

“The extension is a sign of confidence in the company. We hope to continue our strong working relationship with all our clients and business partners,” said Yinson executive chairman Lim Han Weng.

Yinson fully owns Knock Adoon, which has a capacity to process 60,000 barrels of oil a day and a storage capacity of 1.7 million barrels