The consortium of Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad’s wholly owned subsidiary Bumi Armada Offshore Holdings Limited (BAOHL) and its joint venture company, PT Armada Gema Nusantara (PT AGN), have been appointed as the FPSO Lease Contractor for the Madura BD Field via a Letter of Intent (LoI) issued by Husky-CNOOC Madura Limited (HCML).
The Madura BD field is located approximately 65km east of Surabaya and about 16km south of Madura Island, offshore Indonesia. Pursuant to the LoI, the Consortium will supply a FPSO Vessel to HCML at a total contract value of USD 1.18B for a fixed period of ten years with options of five annual extensions worth an aggregate value of USD 147M.
Executive Director and CEO of Bumi Armada, Hassan Basma, said: “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. Our track record of delivering on time, within budget, safe and reliable FPSOs, was instrumental in securing this award.”
