Bumi Armada Wins Third FPSO Project in India

Bumi Armada FPSOIllustration; Source: Flickr – under the CC BY 2.0 license; Image by: Frans Berkelaar

Malaysia-based Bumi Armada has secured a contract from India’s Oil and Natural Gas Corporation Ltd (ONGC) to provide a floating production, storage and offloading (FPSO) vessel.

Namely, the company’s joint venture Shapoorji Pallonji Bumi Armada Godavari Private Limited
(SPBAG) received a Notification of Award for the FPSO, that will operate off the west coast of Kakinada, India.

The charter hire and operations deal is for a fixed period of nine years, valued at around USD 2.1 billion (MYR 8.8 billion). ONGC has the option to extend the contract for up to seven years. On an annual basis and if fully exercised, the extensions would be worth USD 655 million (MYR 2.7 billion).

“The JV with SPOGPL has been a very successful partnership, this being our third FPSO project together in India and fourth in total,” Leon Harland, Executive Director and Chief Executive Officer, said.

“This is a positive result for the group and the project will add value to Bumi Armada going forward,” Harland added.

SPBAG is a 30:70 joint venture between Bumi Armada and Shapoorji Pallonji Oil & Gas Private Limited of India.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 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 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >