Bumi Armada said that the floating production storage and offloading (FPSO) vessel contract awarded to its joint venture with an India partner has been extended due to the Covid-19 lockdown.
The contract was awarded to Shapoorji Pallonji Bumi Armada Offshore Private (SPBAOPL) by India’s state-owned Oil and Natural Gas Corporation (ONGC).
Go deeper with GlobalData
In a filing with Bursa Malaysia, the company said: “According to ONGC, approval for formalisation of the contract extension has been delayed due to the Covid-19 lockdown in India.”
The charter is due to expire on 20 April, and ONGC had requested SPBAOPL to consult with the relevant authorities to secure permits and an extension in order to continue on-site operations.
ONGC originally chartered the Armada Sterling FPSO for seven years, with six annual extension options. The vessel has been operating in the ONGC D1 field situated 200km off the west coast of Mumbai.
SPBAOP is a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMalaysia-based Bumi Armada owns 49% less one share in SPBAOPL, while the remaining 51% plus one share is held by Shapoorji Pallonji Oil and Gas Private Ltd of India.
Bumi Armada provides international offshore energy facilities and services with a presence in more than ten countries across four continents.
