Malaysian oilfield services company Bumi Armada and its joint venture partner Shapoorji Pallonji Energy (SP Energy) have secured a charter extension from India’s state-owned Oil & Natural Gas Corporation (ONGC) for a floating production, storage and offloading vessel Armada Sterling II operating in the Cluster 7 field about 210km off the west coast of Mumbai.
operating in the Cluster 7 field about 210km off the west coast of Mumbai.A one-year extension has been awarded to Bumi Armada 49% owned SP Armada Oil Exploration Private Limited worth approximately $43m.
The 1998-built vessel, converted to an FPSO by Keppel Shipyard in Singapore in 2014 has been fixed under a nine-year charter which will expire in March next year. ONGC also has seven annual extension options for the vessel.
