Fugro announced that it will enter into a new well services joint venture with Malaysia Oilfield Services company Bumi Armada Berhad.
The companies will create a team consisting of members of both Fugro and Bumi Armada with skills in marine operations, well intervention, and drilling operations. Fugro will hold 49% interest in the JV with Bumi Armada holding the remaining 51%.
Bumi Armada’s Chief Executive Officer, and Executive Director, Hassan Basma said: “This investment will represent our first foray into the lucrative and expanding subsea market where Bumi Armada intends to make its presence felt. These additional services will contribute to our footprint on a global scale with focus on our core markets. The top hole drilling and well intervention services complement our existing FPSO, T&I and OSV businesses, enabling us to offer our clients a full range of services and vital subsurface expertise required for brown fields and risk sharing contracts.”
