Yinson teams Sumitomo for FPSO and FSO
Published on: Saturday, April 21, 2018
Kuala Lumpur: Yinson Holdings Bhd and Sumitomo Corporation have signed a Memorandum of Understanding (MoU) to collaborate in the leasing and operation of floating production storage and offloading (FPSO) and floating storage and offloading unit (FSO) projects worldwide.In a statement on Friday, Yinson said under the MoU, the company would oversee and conduct the overall project implementation and Sumitomo would take reasonable endeavours to seek competitive logistics and financing on top of enhancing the overall value chain from upstream to downstream of any selected projects.Stay up-to-date by following Daily Express’s Telegram channel.
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"With the combination of Yinson's knowledge and expertise in FPSO and FSO business and Sumitomo's financial strength and network, the collaboration is likely to have higher potential in winning new projects," it added. – Bernama
