Contract Extension For Bumi Armada’s FPSO Armada Perkasa Worth Approximately Rm 100 Million

abarrelfullabarrelfull wrote on 10 Jan 2013 12:47

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23 October 2012

Malaysia-based international offshore oil and gas services provider, Bumi Armada Berhad announced today that Afren Energy Resources Limited has exercised the first of the 5 one year extensions from the original contract for the FPSO Armada Perkasa with effect from 1 July 2013. The contract extension for the Armada Perkasa, which has been operating offshore Nigeria in the Okoro-Setu field, is estimated at approximately RM 100 million in total.

Mr Hassan Basma, Executive Director/Chief Executive Officer of Bumi Armada said, “Our Armada Perkasa, has been operating for Afren since 2008 with 99.8% uptime and it achieved its 1,000 days without LTIs* in July this year. This contract extension underscores our international expansion and consolidation in our strategic markets of Africa, particularly in the Gulf of Guinea.”

The Armada Perkasa, which is 211.2 m long and weighs 58,557 deadweight tonnes, has a production capacity of 27,000 bbls/day* of liquids and storage capacity for 360,000 barrels. The FPSO underwent a recent de-bottlenecking which takes the potential production capacity from 27,000 to 35,000 bbls/day of fluids. To date, the FPSO has lifted over 24 million barrels of oil.

The original contract was a fixed term of five years with five one year extension options thereafter.

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