Yinson CEO: Global O&G job flows picking up

TheStar Fri, Jul 12, 2019 07:55am - 4 years View Original


KUALA LUMPUR: Job flows in the global oil and gas industry are picking up, primarily due to the decline in industry players, said Yinson Holdings Bhd group CEO Lim Chern Yuan.Yinson, a provider of floating production, storage and offloading (FPSO) vessels, has been increasingly bidding for jobs last year and the group is optimistic of securing most of them.

“It is not that there is a significant increase in the number of jobs globally, but the main factor is the decline in the number of competitors in the industry – there are just not as many as there were before.

“Many have not been able to survive the downturn in the past couple of years, and this is also why we are optimistic about our business and prospects ahead,” said Lim after Yinson’s AGM yesterday.

He added that Yinson is prepared to take on more jobs, should opportunities arise, given the group’s depth of experience in delivering FPSO projects and a stronger engineering team.

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