August 11, 2011 / 5:20 AM / 9 years ago

Malaysia's Bumi Armada signs FPSO charter with Indian O&G player

KUALA LUMPUR, Aug 11 (Reuters) - Malaysian oilfield services provider Bumi Armada’s joint venture company has signed a seven-year charter with India-based Oil and Natural Gas Corp for an oilfield support vessel, Bumi Armada said on Thursday.

The floating, production, storage and off-loading vessel (FPSO) will be deployed at the D1 field, located 200 km off the west coast of Mumbai, Bumi Armada added in the statement to the Kuala Lumpur exchange.

Bumi Armada did not specify the value of the contract, but said there was an option to extend the contract annually for six years.

The FPSO is expected to be delivered in the last quarter of 2012, with first oil due at the end of December 2012, the company added.

The deal was signed by Bumi Armada’s company, Forbes Bumi Armada Offshore Ltd, which is jointly owned by India’s Forbes & Company Ltd .

Bumi Armada is the world’s eighth largest FPSO player, and was listed on the Kuala Lumpur stock exchange last month.

Reporting by Min Hun Fong; Editing by Niluksi Koswanage

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below