Malaysia's Yinson Holdings, through wholly owned subsidiary Adoon, and Nigeria's Addax Petroleum Development have agreed to extend the existing charter contract of the floating production storage offloading (FPSO) vessel Adoon by four years.
The value of the contract extension is estimated to be US$137.5 million.
Adoon, which has a storage capacity of 1.7 million barrels, has been operating in Nigeria on charter with Addax since 2006.