Yinson is pleased to announce that the Company has signed contracts with Petrobras for the charter, operations and maintenance of FPSO Marlim 2, a floating, production, storage and offloading (FPSO) vessel for the Marlim revitalization project in the north-eastern part of Campos Basin, Brazil.

Two Letters of Intent (LOI) for the project were entered into on 16 October 2019.

Yinson has signed both a charter as well as the operation and maintenance (O&M) contracts for this project. The estimated aggregate value of the contracts is equivalent to USD5.4 billion. The contract period is for 25 years from the date of the final acceptance.

FPSO Marlim 2 will be Yinson’s first vessel to operate in Brazil waters and is one of several bids in the region that Yinson has entered into.