PTSC, Yinson to Set up FSO JVC

On the occasion of the official Malaysia visit by Vietnamese State President Truong Tan Sang, PetroVietnam Technical Services Corporation (PTSC) and Yinson Holdings Berhad signed a shareholder agreement to establish PTSC Southeast Asia, a joint venture company investing in a Floating Storage and Offloading (FSO) Facility.

 

The signing was held at the Malaysia - Vietnam Business Forum at the witness of President Truong Tan Sang, Deputy Prime Minister Nguyen Thien Nhan, and high-profile officials of Malaysia and Vietnam.

 

“PTSC Bien Dong 01” FSO is the first condensate FSO which has the breakup mooring and subsea systems. This project is totally performed by PTSC, ranging from engineering and building to pre-commissioning, hook-up, offshore installation, operation and maintenance during the period of some 20 years. The total investment of the project is around US$150 million.