Yinson Sells FPSO Stake in Ghana
Malayasia's Yinson Holdings has sold its26 percent stake in its floating production, storage and offloading (FPSO) unit in Ghana to a consortium of Japanese companies, The Star reported.
According to the heads of agreement (HoA) with the consortium, the value of the stake in Yinson Production (West Africa) Pte Ltd (YPWA), the company said yesterday, was estimated in the range of $104 million to $117 million.
“The group welcomes the Japanese consortium on board FPSO John Agyekum Kufuor (FPSO JAK) via this monumental collaboration between both parties,” Yinson’s group executive chairman Lim Han Weng said in a statement.
The Star report says that FPSO JAK produced its first oil in record time-to-market last month. The HoA was entered into pursuant to the understanding between Yinson and the consortium in forming a collaboration through YPWA in relation to the FPSO charter contract at Offshore Cape Three Point Block in Ghana.
