Malaysian floater operator Yinson has secured a short-term charter extension deal for its floating production storage and offloading (FPSO) vessels in Nigeria.
The 1985-built Adoon
has been fixed to Sinopec’s Addax Petroleum Development until January 16, 2023 in a deal worth around $3.4m.
The unit has been operating in Block OML 123 offshore Nigeria. The vessel’s original contract was awarded for a firm eight-year period in October 2006, with an option to renew for up to eight years. The deal expired in October this year and the FPSO has since been chartered through several short-term agreements.
Yinson said the contract extension is expected to have a positive impact on its earnings and net assets per share.
