- The contract cancellation is scheduled to occur on June 30, 2017
- Despite the termination, PetroVietnam - the ultimate holding company of one of the shareholders of LSJOC – intends to continue the petroleum operations at Lam Son Field despite the liquidation of LSJOC and to continue to utilise FPSO PTSC Lam Son for this purpose (How??)
- PTSC Asia Pacific is entitled to an early termination payment (ETP) from PTSC
- PetroVietnam owns 51% of PTSC Asia Pacific as well as 50% of LSJOC. This means that PetroVietnam has a pecuniary interest to find a solution for a redundant FPSO
- The charter contract is a bareboat charter, which means that the cost of reinstating the FPSO in its original condition will be borne by LSJOC
Chart: Yinson's daily chart as at Apr 3, 2017 (Source: Malaysiastock.biz)
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