Ramunia spending $82.5m on FPSO

Malaysia-based Ramunia has set aside $82.5m to acquire a floating production, storage & offloading (FPSO) vessel from Drydocks World. Ramunia believes the proposed acquisition will allow it to tap into and participate in the development of oilfields and deepwater fields in Malaysia and the region. “The proposed acquisition presents an immediate opportunity for Ramunia to participate in any direct negotiations, invitation to bids and requests for new proposals for the proposed deployment of FPSOs, to be undertaken by Malaysian and regional oil companies, where the demand is increasing within the backdrop of higher oil prices,” it said in a statement. Ramunia said it is buying the FPSO unit at 36.5% discount to its market value which is estimate at around $130m. The FPSO was the former 68,000 dwt tanker Laurita, which was later renamed Deep Producer 1.