Yinson Holdings Berhad (the 'Company') 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.
None of the Directors and/or major shareholders of the Company or persons connected to them has any interest, direct or indirect, in the Contract.
This announcement is dated 23 January 2017.
Yinson Holdings Bhd published this content on 23 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 January 2017 01:25:02 UTC.
Original documenthttp://www.yinson.com.my/page/read_news/925
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