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Malaysian floater operator Yinson has efficiently accomplished the 16-year contract for the 1985-built FPSO
Adoon, which has been working at Block OML 123 offshore Nigeria.
The contract with Sinopec’s Addax Petroleum Improvement had an unique time period of eight years till 2014, with the choice to increase by as much as eight extra years till 2022. The FPSO has since been chartered by way of a number of short-term agreements.
Addax had the choice to buy the unit on the finish of the contract interval and the sale was accomplished earlier this month, Yinson mentioned in a regulatory submitting.
The FPSO was constructed by Yinson’s predecessor firm, Fred. Olsen Manufacturing, for Addax and commenced operations in October 2006. The vessel has produced over 212m barrels of oil and clocked greater than 6m offshore manhours over its contract tenure.