October 27, 2012 / 3:16 AM / 5 years ago

Bumi Armada completes conversion of FPSO

SINGAPORE, Oct 27 (Reuters) - Bumi Armada, a Malaysia-based international offshore oil field services provider, said on Saturday it has completed a conversion of its fifth floating production storage and offloading unit (FPSO) for deployment in the D1 field in India.

The FPSO chartered by Oil and Natural Gas Corp is the state-owned Indian explorer's first such vessel as it aims to drill for more oil from marginal fields.

"We remain on schedule for first oil in December," Hassan Basma, CEO of Bumi Armada said.

FPSO Armada Sterling, the former 107,000 deadweight tonne tanker Monte Umbe, has a production capacity of 50,000 barrels per day (bpd) and is able to store 750,000 barrels of liquids.

It will depart soon for the D1 field, 200 kms off the coast of Mumbai.

Bumi Armada's joint venture company, Forbes Bumi Armada Offshore Ltd, signed in August last year a 7-year fixed term time charter with ONGC and the Indian explorer has the option to extend the charter for another six years. (Reporting by Florence Tan, Editing by Jonathan Thatcher)

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