Energy, Oil & Gas Magazine Issue 221 July 2024 | Page 30

Yinson Production ____________________________________________________________________________________________

Backed by an excellent track record in project execution , safety , uptime performance , and a prominent position in sustainable floating , production , storage , and offloading ( FPSO ) vessel designs , Yinson Production Ltd ( Yinson ) stands as a top-tier FPSO contractor . Originally serving as a modest transport and logistics company in Malaysia , Yinson was founded by Lim Han Weng in 1984 . Interestingly , the name ‘ Yinson ,’ which was derived from Lim ’ s mother ’ s name – Yin – also translates to ‘ cloud rising ’ in Chinese , conveying his aspiration for the company to rise as high as the clouds . Through an unwavering commitment to exceptional customer service and timely delivery , what started as a small enterprise grew exponentially . Over a 20-year span , Yinson became one of Malaysia ’ s biggest transport companies , boasting a fleet of 365 trucks and supplying an additional 565 trucks to its valued customers .

Yinson entered the oil and gas industry by forming a consortium with PetroVietnam Technical Services Corporation ( PTSC , a subsidiary of PetroVietnam ). The joint venture company was awarded a contract for the charter of a floating , storage , and offloading ( FSO ) vessel named PTSC Bien Dong 01 . This paved the way for Yinson to win a contract for the charter of FPSO PTSC Lam Son .
Impressive uptime
In 2014 , the business was further strengthened with the acquisition of established Norwegian FPSO company , Fred Olsen Production ASA . By mid-2016 , Yinson divested its non-oil and gas businesses , streamlining the company to specifically serve the offshore oil and gas industry . This strategic decision allowed Yinson to grow over the ensuing years to become one of the largest independent FPSO leasing companies globally . To date , Yinson has a fleet of nine FPSOs located in Ghana , Malaysia , Nigeria , Brazil , and Angola .
Jahn Høgberg , COO , provides further details on the company ’ s primary services . “ As specialists in leasing and operating FPSOs , we exclusively handle our own assets and do not operate FPSOs owned by others . Serving as a one-stop shop , we design and build our
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