BAREBOAT CHARTER AND O&M CONTRACTS SIGNED WITH FIRST E&P FOR ANYALA & MADU FIELDS

We are pleased to announce that Yinson has been awarded contracts for the charter, operations and maintenance (O&M) of one of our FPSO vessels by FIRST Exploration & Petroleum Development Company Ltd (“FIRST E&P”) for use at the Anyala & Madu fields in Nigeria.

The awarded contracts are for a firm period of seven (7) years followed by a two-year and six (6) yearly extension options exercisable by FIRST E&P.

Yinson will be redeploying FPSO Allan, to Anyala & Madu, in Nigeria for this purpose. The vessel will be renamed FPSO Abigail-Joseph and is expected to commence operations at the fields by the fourth quarter of 2019.

FPSO Allan recently ceased operations on 31 January 2019 after nearly 10 years tenure at the Olowi Field in Gabon.