Malaysian offshore giant Bumi Armada has formed an Indian joint venture with Shapoorji Pallonji Oil and Gas (SPOG), a wholly owned subsidiary of Shapoorji Pallonji And Company. The JV will look at FPSO projects in India.
“The JV arrangement will enable the Bumi Armada Group to expand and carry out its FPSO business, as well as mitigate its financial and project execution risk exposure in respect of any FPSO project awarded, by leveraging on Bumi Armada and SPCL’s strong history and experience in fabrication and construction related activities,” Bumi Armada said in a release. The JV is split 49:51 in the Indian firm’s favour.
