Armada TGT Ltd (“Armada TGT”), a wholly owned subsidiary of Bumi Armada Berhad has signed a Bare Boat Charter Contract with Hoang Long Joint Operating Company (“HLJOC”) for the charter of FPSO Armada TGT 1 with a firm charter period from 27 August 2018 until 14 November 2024 (“Contract”) with a contract value of USD285 million (approximately RM1.16 billion).
The FPSO Armada TGT 1 has been chartered by Armada TGT to HLJOC to operate in the Te Giac Triang field (“TGT field”) offshore Vietnam under a seven - year firm Bare Boat Charter Contract dated 1 September 2009 which will expire on 26 August 2018. Following the signing of the Contract, the FPSO Armada TGT 1 will continue to be chartered to HLJOC at the same location from 27 August 2018 until 14 November 2024.
The TGT field is owned and ope rated by HLJOC , which is a partnership between PetroVietnam Exploration Production Corporation , SOCO Vietnam Ltd., OPECO Vietnam Ltd., and PTTEP Hoang - Long Company Limited.
About Bumi Armada
Bumi Armada Berhad is a Malaysia - based international offshore energy facilities and services provider with a presence in over 17 countries spread across five continents, supported by over 1, 700 people from over 49 nationalities. Bumi Armada Berhad provides offshore services vis two business units – Floating Production and Operations (oil and gas solutions) and Offshore Marine Services (“OMS”) (encompassing the Offshore Support Vessels (“OSV”) and the Subsea Construction (“SC”) services). The two business units are in turn supported by three support units, namely FPSO Sales, Major Projects and Technology & Development. Bumi Armada is the fifth largest FPSO player in the world and an established OSV owner and operator, with extensive experience across Asia, Africa and Latin America.