Joint venture to supply FPSO to Lam Son offshore Vietnam

Offshore staff

TEBRAU, Malaysia –Petrovietnam Technical Services Corp. and Yinson Holdings Bhd. have formed a consortium to execute an engineering, procurement, construction, and installation contract and bareboat charter for an FPSO.

The FPSO is for charter to the Lam Son Joint Operating Co. for 10 years at $737.3 million with possible annual extensions for three years.

The consortium formation is subject to Yinson shareholders and the relevant authorities. Completion of the agreement is expected before year end.

6/12/2012