Bumi Armada Bags Two Contracts Worth Rm578.4 Mln
KUALA LUMPUR, March 7 (Bernama) -- Bumi Armada Bhd has secured two contracts worth a total of RM578.4 million from India's state-owned oil company, Oil and Natural Gas Corporation Ltd (ONGC).
The offshore oil and gas services firm said its joint-venture company, Shapoorji Pallonji Armada Oil and Gas Services Pte Ltd (India) (SPAOGSPL) was awarded a contract worth RM127.0 million for the operation and maintenance (O&M) of the Armada Sterling II Floating Production, Storage and Offloading vessel (Armada Sterling II FPSO).
The Armada Sterling II FPSO is deployed at the ONGC Cluster-7 Field, located off the west coast of Mumbai, India.
"The O&M is effective from March 8, 2025, for a fixed period of three years, with an annual option to extend the charter for up to three additional years," it said in a filing with Bursa Malaysia.
SPAOGSPL is 60:40 per cent owned by Shapoorji Pallonji Energy Pvt Ltd and Bumi Armada (Singapore) Pte Ltd, a wholly-owned subsidiary of Bumi Armada.
In a separate filing, Bumi Armada said its joint-venture company Armada C7 Pte Ltd (AC7) received a notification of award worth RM451.4 million for the bareboat charter lease of the Armada Sterling II FPSO without operator.
"The Bareboat Charter is effective from March 8, 2025, for a fixed period of three years, with an annual option to extend for up to three additional years,” it said.
AC7 is 51:49 per cent owned by Shapoorji Pallonji Energy Pvt Ltd and Bumi Armada Offshore Holdings Ltd, a wholly-owned subsidiary of Bumi Armada.
On the extension of contract for the charter hire of the Armada Sterling II FPSO by ONGC, Bumi Armada said its jointly controlled entity, SP Armada Oil Exploration Pte Ltd has not received any notice of further contract extensions.
"The Armada Sterling II FPSO contract will expire on March 7, 2025," it said, adding that it has been operating in the ONGC Cluster-7 field since March 2015.
-- BERNAMA