Bumi Armada receives LOI for Eni FPSO

Kuala Lumpur: Malaysia-based offshore oilfield services provider, Bumi Armada has received a Letter of Intent (LOI) from Italian oil and gas company Eni’s Angola subsidiary for the chartering, operation and maintenance of an FPSO, which will be deployed at Block 15/06, East Hub located offshore Angola.

The LOI authorizes Bumi Armada to start engineering and procurement work on the FPSO immediately with a contract effective date of 28 March 2014. First oil is scheduled for end October 2016.The Contract has an indicative value of approximately $2.9bn.

“This is the second time Eni has turned to Bumi Armada for an FPSO in West Africa and we will continue to collaborate with our tried and tested value-chain, as we have done in the past, to successfully deliver this project for our repeat customer,” said Bumi Armada’s chief executive officer Hassan Basma. [31/03/14]

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