Malaysian offshore service provider Bumi Armada has secured two contracts from India’s state-owned oil company ONGC for works to support the Armada Sterling FPSO in Mumbai.
One contract is for a bareboat charter charter with an estimated value of $370m and the other is for operation and maintenance services and has an estimated total value of $124.7m.
Both contracts are for a fixed period of 10 years with an annual option to extend for up to five additional years, and will be effective from September 25.