Yinson hopes to seal the Nigerian deal in the third quarter

KINGA LUMPUR: Yinson Holdings Bhd, which is in exclusive negotiations to provide a Floating Storage and Offloading Production Unit (FPSO) at First Exploration & Petroleum Development Co. Ltd. (First E & P), plans to conclude the negotiations. September 1965

Previously, the FPSO specialist stated that he expected to seal the agreement by June 30th.

"We intend to conclude the agreement as soon as possible, but it is a very long-term contract.Another party on the other side of the table with which we must negotiate, "said Lim Chern Yuan, his CEO, to the press after his AGM yesterday.

" We do not know if this is a realistic goal, but we will do our better to come to a conclusion in the next quarter, in September, "he added.

Last month, Yinson announced that it had entered into an exclusive negotiation with First E & P to discuss the supply of electricity. an FPSO unit as well as operations and maintenance of the Anyala & Madu field located 40km off Nigeria, the contract must have a firm period of seven years with a renewal option of up to At age 8.

In his view of the industry, Mr. Lim stated that the group remained optimistic about FPSO demand over the next two years as it sees increasing call offering activities globally. gas business in recent years, and it is catching up now. We also see that many projects are awarded in a shorter period of time.

"In the last two years, we have developed our balance sheet and our human resources. This, coupled with the current level of oil prices, we believe we are in a very good position to undertake projects, "he added.

Lim said the group got a project this year at Today his backlog is currently raising to $ 4.3 billion (RM17.3 billion) and will keep it up to 2037.

He added that Yinson would continue to bid for jobs in its main geographical areas, namely Asia and Africa, noting that the group had also started bidding for projects in new areas such as the US region.However, it refused to disclose the value of its specifications

Yinson is the sixth FPSO on the global FPSO market with a geographic presence in Malaysia, Vietnam, Singapore, Norway, the United States and Africa. shares remained unchanged hie r to RM4.52 with 598,000 shares changing hands.