Bumi Armada confirms Angola FPSO charter

Kuala Lumpur: Malaysian offshore operator Bumi Armada has confirmed the signing of a firm 12 year charter contract with eni Angola, who signed a letter of intent back in March.
 
The deal is for the chartering, operation and maintenance of an FPSO tanker facility complete with mooring system at the Block 15/06 East Hub field, located in deep water offshore Angola.
 
In addition to the 12 year contract, there is options for 8 yearly extensions. The value is approximately $3b with a possible further $900m if eni Angola exercises all the extension options in full.
 
The FPSO will commence operations in the Block 15/06 field in the fourth quarter of 2016. [21/08/14]

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