Yinson Production names FSO for Murphy's Lac Da Vang Project off Vietnam and secures 10-year contract
Type: Supply Agreement · Technology: Oil Gas · Country: Vietnam · Announced: 2026-06-24
Yinson Production has secured a contract with Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation, to provide storage and offloading services for the Lac Da Vang oil project offshore Vietnam. The contract has a firm term of 10 years and includes an option to extend for up to an additional five years. The FSO vessel, named PTSC Lac Da Vang, is a newbuild double-hull vessel with a storage capacity of about 500,000 barrels and incorporates dual-fuel systems. The vessel was launched earlier this year at Nantong StrongWind Shipyard in China and is expected to begin operations in the fourth quarter of 2026. This project strengthens the relationship between Yinson Production and PetroVietnam Technical Services Corporation (PTSC), who have operated offshore assets in Vietnam for over a decade.
Counterparties
- Yinson Production (Supplier)
- Murphy Oil Corporation (Parent Company)
- Murphy Cuu Long Bac Oil (Offtaker)