Bumi Armada secures third FPSO project in India
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad announced that its joint-venture (“JV”) company Shapoorji Pallonji Bumi Armada Godavari Private Limited (“SPBAG”) has received a Notification of Award (“NOA”) from India's state-owned oil company Oil and Natural Gas Corporation Limited ("ONGC") for the charter hire and operations of a Floating Production, Storage and Offloading Vessel ("FPSO") (collectively referred to as “the Contract”).
SPBAG is a 30:70 joint venture between Bumi Armada and Shapoorji Pallonji Oil & Gas Private Limited of India (“SPOGPL”). The FPSO will operate in the ONGC NELP Block DWN 98/2 Development Cluster-II field, located off the west coast of Kakinada, India.
The Contract is for a fixed period of nine (9) years, valued at approximately USD2.1 billion (approximately RM8.8 billion). ONGC has the option to extend the Contract for up to seven (7) years, on an annual basis and if fully exercised, the extensions would be worth approximately USD655 million (approximately RM2.7 billion).
About Bumi Armada
Bumi Armada Berhad is a Malaysia-based international offshore energy facilities and services provider with a presence in over 10countries spread across three continents, supported by over 1,500 people from over 38 nationalities.Bumi Armada Berhad provides offshore services via two business units –Floating Production and Operations (“FPO”) and Offshore Marine Services (“OMS”) (encompassing the Offshore Support Vessels (“OSV”) and the Subsea Construction (“SC”) services).