Malaysian floating production contractor Yinson has said it is finalising a contract to replace TH Heavy Engineering as the main contractor for the Layang floating production, storage and offloading vessel.
Certain conditions relevant to the proposed transfer, or novation, include agreeing on the full consideration payable by Yinson to TH Heavy.
Yinson said it will have no liability or responsibility to the Layang project owner JX Nippon Oil & Gas or to TH Heavy for any loss or liability rising from matters prior to finalisation.
