Yinson Production and Yinson Operations & Production West Africa have entered a heads of terms with First Exploration & Petroleum Development Co.
Offshore staff
KUALA LUMPUR, Malaysia – Yinson Production and Yinson Operations & Production West Africa have entered a heads of terms with First Exploration & Petroleum Development Co.
This concerns exclusive negotiations on the potential supply and charter of an FPSO to process hydrocarbons from the Anyala and Madu fields 40 km (25 mi) offshore Nigeria in the Niger Delta in oil mining leases 83 and 85.
A year ago, First E&P signed a tripartite agreement for development of the fields withNNPC and Schlumberger.
First E&P estimates combined in-place resources at more than 450 MMbbl of oil and 800 bcf of gas.
At the time, the company said it planned to deploy an existing FPSO with capacity of 50,000 b/d of oil and 120 MMcf/d of gas, with first oil planned for 2019. It estimated the cost of the project, phased over several years, at $700 million.
