Bumi Armada, Eni Ink Angola FPSO LoI Worth USD 2.9 Bln

Malaysia-based Bumi Armada Berhad has received a Letter of Intent (LoI) from eni Angola S.p.A, for the award of a contract for the chartering, operation and maintenance of a FPSO vessel to a consortium of Bumi Armada Offshore Holdings Limited and Angoil Bumi JV Limitada (ABJL) for deployment at Block 15/06, East Hub located offshore Angola.

VLCC-tanker to be converted into FPSO

The LOI authorizes Bumi Armada to start engineering and procurement work on the FPSO immediately with a contract effective date of 28 March 2014. First oil is scheduled for end October 2016. The Contract, has an indicative value of approximately USD2.9 billion (equivalent to approximately RM9.5 billion).

Chief Executive Officer/Executive Director of Bumi Armada, Mr. Hassan Basma said, “This LOI is our second large (capex of more than USD1 billion) FPSO award in 6 months and underscores our successful migration into the large-project FPSO sector. This is the second time eni has turned to Bumi Armada for an FPSO in West Africa and we will continue to collaborate with our tried and tested value-chain, as we have done in the past, to successfully deliver this project for our repeat customer.

This project is our first VLCC-tanker conversion. The Armada Ali will be used for conversion. The 15/06 FPSO will be delivered in 31 months and this project will take Bumi Armada’s FPSO fleet to eight, clearly moving us into the top-tier of global FPSO players.”

Press Release, March 31, 2014; Image: atlasmaritime

Share this article

Follow Subsea World News

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >