Malaysian floater player Yinson has secured a long-term extension for its floating production, storage and offloading unit Adoon off Nigeria from Addax Petroleum Development.
The subsidiary of Chinese state-owned giant Sinopec is holding onto the FPSO until 16 October 2022 under the new four-year extension, which is backdated to 17 October last year.
The value of the contract as of 17 June this year until the end of the extension period is around $137.5
