Yinson Holdings Berhad is pleased to announce that Talisman Vietnam 07/03 B.V. (“TLV”) has via a Letter of Intent dated 20 January 2017 (“LOI”) agreed to enter into exclusive negotiations with Yinson Production Pte Ltd (“YPPL”), an indirect wholly owned subsidiary of the Company, for the supply of a Floating Production, Storage and Offloading (“FPSO”) Facility for the Ca Rong Do Field Development located in Block 07/03 in the Eastern Sea Offshore Vietnam (“CRD Field”) (“Contract”).
The LOI is a confirmation of TLV’s intention to award the Contract to YPPL, subject to, amongst others, successful negotiation and finalisation of the terms and condition of the Contract, the commercial arrangement and approvals of the relevant authorities, which is expected to be completed by April 2017. A further announcement will be made upon execution of the Contract.
TLV is a wholly owned subsidiary of Repsol S.A. (“Repsol”), a global integrated oil company listed on the Madrid Stock Exchange and is the operator of the said field. The other owners in the CRD Field are PetroVietnam, PetroVietnam Exploration Production Corporation (PVEP), Mubadala Petroleum, and Pan Pacific Petroleum.
