Bumi Armada to Supply FPSO for Madura BD Field

Illustration

Bumi Armada Berhad has been appointed as the FPSO Lease Contractor for the Madura BD Field, Offshore Indonesia via a Letter of Intent issued by Husky-CNOOC Madura Limited (“HCML”).

Illustration

Pursuant to the Letter of Intent, the Consortium will supply a Floating Production, Storage and Offloading Vessel to HCML at a contract value of USD1.18 billion for a fixed period of ten years with options of five annual extensions worth an aggregate value of USD147 million, if the options are fully exercised by HCML, subject to terms and conditions of the FPSO Lease Contract to be finalised and signed within forty-five days from the effective date of the LOI of 8 August 2014 subject to such extension to be mutually agreed between HCML and the Consortium. The Consortium is authorised to commence initial engineering work immediately on issuance of the LOI.

HCML is an oil and gas company based in Jakarta, located in the Madura Straits, offshore East Java, Indonesia. The shareholders of HCML are CNOOC Southeast Asia Limited, Husky Oil Madura Partnership and SMS Development Limited holding 40%, 40% and 20% in HCML respectively.

Press Release, August 20, 2014

Share this article

Follow Subsea World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 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

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

Future Energy Asia Exhibition & Conference (FEA) 2018

The transformation and development of Thailand is a major priority for the government which creates incredible business opportunities…

read more >

The World Future Energy Summit (WFES) 2018

WFES will also hold its annual conference, which sees international government and business experts come together to discuss critical global…

read more >

HYPACK 2018

This training event will offer instruction on the newest features of HYPACK® 2018 as well as comprehensive training for both novice…

read more >