Yinson and PTSC reach first oil ahead of schedule at Vietnam field
The FSO PTSC LDV vessel reached the milestone on September 27, before the previously announced fourth-quarter 2026 target.
First oil at Vietnam's offshore Lac Da Vang (LDV) field was achieved on September 27, 2026, by Yinson Production Offshore Pte Ltd and PetroVietnam Technical Services Corporation (PTSC), earlier than planned, according to a Bursa Malaysia filing.
Yinson Production, the offshore production unit of Yinson Holdings Bhd, said the floating storage and offloading vessel FSO PTSC LDV had reached the milestone before its previously announced target of the fourth quarter of 2026.
The vessel is on charter to Murphy Cuu Long Bac Oil Co Ltd, wholly owned by Murphy Oil Corporation. The firm charter period is 10 years, with options allowing extensions for up to five additional years.
Development of the field is expected to gather pace through 2028 as more wells enter production.
Yinson Production said its fleet currently comprises 11 vessels. Its order book is approximately US$19 billion, running until 2050, and the company has operations in 12 countries.
