Yinson Optimistic About Growth Potential in FPSO Market

Malaysia-listed Yinson Holdings Bhd is optimistic about growth potential in the floating production, storage and offloading (FPSO) segment, with potential demand from countries in Southeast Asia, Africa and South America, senior company executives said, as quoted by local media The Star Friday.

The market, with six credible and reputable providers globally, is big enough to be shared by industry players bidding for FPSO units, Yinson's Group executive chairman and managing director Lim Han Weng said, adding that demand for such facilities is likely to continue growing over the next five years at around 10 to 12 units annually.

The cost of a small to a mid-sized FPSO unit is estimated at between $400 million to $500 million, while capital expenditure for larger units may could be as high as $2 billion.

Meanwhile, Yinson believes that attempts by petroleum companies to develop largely untapped oil and gas fields in Southeast Asia, Africa and South America in their search for new energy supplies present opportunities for the firm.

“As one of the top six FPSO providers in the world and the only two from Malaysia in the elite club, it would be good to explore more business in the three regions,” Lim Chern Yuan, executive director and Group CEO Lim Chern Yuan, said, as reported in The Star.

Yinson currently has a fleet comprising 6 floating production units, the company website indicated. They include 4 FPSOs - FPSO Knock Adoon, FPSO Knock Allan, FPSO PTSC Lam Soon and FPSO Petroleo Nautipa, which Yinson recently agreed to dispose of its 50 percent share in the vessel to BW Offshore. The company also owns the mobile offshore production unit (MOPU) Marc Lorenceau and floating storage offloading (FSO) PTSC Bien Dong 01.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Chee Yew Cheang
APAC Editor | Rigzone
 -  Malaysia's InvestKL Woos Top Oil, Gas ... (Oct 6)
 -  Petrobangla Invites EOIs for 3 Offshor... (Sep 30)
 -  Malaysia's SapuraKencana Posts 7.1% Ga... (Sep 29)
 -  TH Heavy Engineering, McDermott End Pa... (Sep 26)
 -  Singapore's NUS Slowly Builds its Petr... (Sep 26)

Most Popular Articles

From the Career Center
Jobs that may interest you
Static Equipment / LNG Tank Engineer
Expertise: Mechanical Engineering
Location: Houston, TX
ARAMCO QM20 Third Party Inspector
Expertise: Electrical Engineering|QA / QC / Inspection|Technical Writing
Location: Bolingbrook, IL
Power Generation Technician
Expertise: Electrical Technician|Electrician|Maintenance Technician
Location: Broussard, LA
search for more jobs

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours