PTSC Asia Pacific Pte Ltd (PTSC AP), which is 49% owned by Yinson Holdings Bhd and 51% by PetroVietnam Technical Services Corporation (PTSC), has accepted PTSC's offer to continue to deploy its floating production storage and offloading (FPSO) unit for petroleum operations within the Lam Son oilfield offshore Vietnam.
In a filing with Bursa Malaysia today, Yinson said the offer is valid for a maximum period of six weeks from June 30.
The petroleum operations in the Lam Son field will be undertaken by PetroVietnam Exploration Production Corporation Ltd (PVEP), which is a wholly-owned subsidiary of Vietnam's national oil and gas firm PetroVietnam.
On March 31, Lam Son Joint Operating Company (LSJOC), the then operator of the Lam Son field, had issued a notice of termination to PTSC with regard to the FPSO operations in the field.
The termination was pursuant to the liquidation of LSJOC, which was jointly owned by PVEP and PC Vietnam Ltd, a wholly-owned subsidiary of Petroliam Nasional Bhd (Petronas).
Yinson's share price closed down 6 sen (1.6%) today to RM3.60 for a market capitalisation of RM3.88 billion.
In a filing with Bursa Malaysia today, Yinson said the offer is valid for a maximum period of six weeks from June 30.
On March 31, Lam Son Joint Operating Company (LSJOC), the then operator of the Lam Son field, had issued a notice of termination to PTSC with regard to the FPSO operations in the field.
The termination was pursuant to the liquidation of LSJOC, which was jointly owned by PVEP and PC Vietnam Ltd, a wholly-owned subsidiary of Petroliam Nasional Bhd (Petronas).
Yinson's share price closed down 6 sen (1.6%) today to RM3.60 for a market capitalisation of RM3.88 billion.
theedgemarkets.com
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