Kuala Lampur:Yinson Production has finalized a contract amendment with Eni Ghana Exploration and Production Ltd, extending the lease for the FPSO John Agyekum Kufuor (FPSO JAK) offshore Ghana by four years, now concluding in 2036.

According to BERNAMA News Agency, the amendment includes a significant Non-Associated Gas (NAG) modification project aimed at boosting the gas handling and processing capacity of FPSO JAK. This enhancement is intended to reinforce the domestic gas supply and bolster regional energy security for Ghana.

The project involves the fabrication and integration of two essential topside modules: the MG2 module, which features two gas turbine-driven compressors, and the MC4 module, an auxiliary gas treatment module designed to accommodate increased gas volumes. Completion of these modifications is anticipated by the first quarter of 2028.

Yinson Production's chief executive officer, Flemming Guiducci Gronnegaard, emphasized that this development is a critical step in their collaboration with Eni and joint venture partners, enhancing Ghana's energy sector. He highlighted the importance of increasing gas export capacity to strengthen reliable offshore energy infrastructure and support Ghana's domestic energy demands, while also extending the economic life of the field.

The group noted that the contract amendment will not affect the company's share capital or shareholding structure but is expected to positively impact Yinson Production's earnings and net assets per share, with an increased firm contract backlog valued at approximately US$600 million.