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>

<< Sep 2019 >>
MTWTFSS
26 27 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 2 3 4 5 6

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >