KUALA LUMPUR: Yinson Holdings Bhd's offshore production business unit, Yinson Production Offshore Pte Ltd, and PetroVietnam Technical Services Corporation (PTSC) have achieved first oil at the Lac Da Vang (LDV) field offshore Vietnam ahead of schedule.
The floating storage and offloading (FSO) vessel, FSO PTSC LDV, achieved the milestone on Sept 27, 2026, ahead of the previously communicated fourth-quarter 2026 schedule, it said in a Bursa Malaysia filing today.
Yinson Production chief executive officer Flemming Guiducci Grønnegaard said the achievement reflects the strong collaboration, technical excellence and shared commitment to safety among Yinson Production, joint venture partner PTSC, and its client, Murphy Oil Corporation.
"We look forward to delivering safe, reliable, and successful operations alongside our partners for years to come," he said.
The field's development is expected to ramp up through 2028 as additional wells are brought online, providing a vital new source of production to support Vietnam's growing energy sector.
FSO PTSC LDV is chartered to Murphy Cuu Long Bac Oil Co Ltd, a wholly owned subsidiary of Murphy Oil Corporation, under a 10-year firm contract with extension options of up to five additional years.
Yinson Production currently operates a fleet of 11 vessels, with an order book of approximately US$19 billion extending until 2050 and a presence in 12 countries worldwide.
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