Yinson's West Africa units secure US$810mil contract amendment for FPSO upgrade offshore Ghana
KUALA LUMPUR: Yinson Holdings Bhd announced that the lease of its 74 per cent-owned floating production, storage and offshore (FPSO) vessel FPSO John Agyekum Kufuor (JAK) operated by Eni Ghana Exploration and Production Ltd has been extended by four years.
Yinson Holdings Bhd has announced an extension of its lease for the FPSO John Agyekum Kufuor (JAK) vessel, operated by Eni Ghana Exploration and Production Ltd, by four years until 2036. The lease extension and the associated US$810 million contract amendment for FPSO gas capacity upgrade come in the form of a filing with Bursa Malaysia.
This upgrade is part of the non-associated gas modification project and is expected to increase the gas export capacity of the vessel from 210 million to 355 MMscf/d by 2028. The upgrade will be carried out on the Offshore Cape Three Points Block in Ghana's Tano Basin, and involves the installation of two major topside modules, including MG2 and MC4.
Yinson Production, a business of Yinson in the offshore energy sector, stands to benefit from the US$600 million share of the contract amendment value. The enhanced gas export capacity is expected to bolster Ghana's regional energy security and reliable domestic gas supply.
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