PTSC Asia Pacific is a 51:49 joint venture between PTSC and Yinson. On March 31, 2017, Lam Son Joint Operating Company (LSJOC), the operator of Lam Son field, had issued a notice of termination to PTSC for FPSO PTSC Lam Son. The service of the notice of termination is pursuant to the liquidation of LSJOC, which is scheduled for June 30, 2017. Yinson yesterday said PTSC served a notice of termination for convenience to PTSC Asia Pacific under the Bareboat Charter. It added that it is the intention of PetroVietnam to continue to utilize FPSO PTSC Lam Son.

Source: The Edge Markets April 04, 2017 01:41 UTC