Yinson inks Nigerian agreement
KUALA LUMPUR: Yinson Holdings Bhd’s subsidiary, Yinson Production Pte Ltd, has signed an agreement with Yinson Operations & Production West Africa Ltd and Nigerian oil and gas company First Exploration & Production (First E&P) to supply and charter a floating production storage and offloading (FPSO) unit in Nigeria.
The agreement will involve processing of hydrocarbons from the Anyala and Madu fields under oil mining leases 83 and 85, offshore Nigeria.
“The agreement is intended to create a mutually exclusive relationship between the parties and to facilitate exclusive negotiations for the provision and operation of floating production storage and offloading in the fields,” said Yinson in a Bursa Malaysia filing yesterday.
Further, oilfield services company Schlumberger has also agreed to invest US$700 million (RM2.8 million) in development of a project off Nigeria under a tripartite pact with a joint venture involving state-owned Nigerian National Petroleum Corporation (NNPC).
The agreement, inked with the alliance between NNPC and First E&P, covers development of the Anyala and Madu fields in Niger Delta.