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Yinson Holdings Banks On Orderbook To Sustain Business
  • Yinson Holdings, an integrated offshore production and support services provider, is banking on its US$5.9 billion order book to sustain itself over the long term on the back of the slowdown in the global economy.
  • The current order book would keep the company busy for between seven to 20 years.
  • The company sees bright prospects in West African countries, mostly in the gas sector with their governments looking at opening up gas-powered power plants for electricity. It is also optimistic over prospects in the Gulf of Mexico.

Significance: Yinson noted that while depressed oil prices have presented a challenging period in oil and gas industry, its business is not based on oil price speculation and hence believes its order book will help pull it through the current tough environment. Additionally, the group is also bidding for more floating, production, storage and off-loading vessel (FPSO) projects in West Africa and the Gulf of Mexico, as well as in Southeast Asia.

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