Yinson Signs Long-Term Deal for Adoon FPSO

Malaysian FPSO provider Yinson has secured a long-term contract extension through October 2022 with Nigerian company Addax Petroleum Development for its Adoon FPSO. The deal’s value is estimated to be $137.5 million. Yinson had previously won a one-month extension for the FPSO, which is moored at Block OML 123 offshore Nigeria, as it discussed the framework of a long-term deal with Addax. The vessel began operations in Nigeria in 2006. It has a storage capacity of 1.7 million bbls.