Husky-CNOOC Madura awarded Malaysia-based Bumi Armada ƶijϻ Holdings and its joint venture company PT Armada Gema Nusantara a contract to provide the floating production, storage and offloading vessel (FPSO) for the Madura BD Field, approximately 65km east of Surabaya and about 16km south of Madura Island, offshore Indonesia.
The contract is worth an estimated US$1.18 billion for a fixed period of 10 years with options of five extensions worth an aggregate value of $147 million.
The contract is scheduled to be finalized by the end of September 2014.
“Indonesia has proven reserves of 3.9 billion barrels of oil and 141 trillion cubic feet of natural gas and we are excited to be a part of Indonesia’s energy development,” says Hassan Basma, Bumi Armada executive director and chief executive officer.
In June, Bumi Armada Berhad awarded MacGregor a contract for two projects; one in the North Sea and one in the Caspian Sea.
In April, Bumi Armada Berhad received a letter of intent from ENI Angola for a contract for the chartering, operation and maintenance of an FPSO offshore Angola.
Image of Bumi team from Bumi
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