Bumi will provide the floater under a 12-year charter, operations and maintenance contract worth about $3bn. It has a further aggregate contract value of $900m if Eni Angola exercises all the extension options.
Bumi Armada will utilise a very large crude carrier (VLCC) class tanker for the FPSO conversion.
The FPSO, which is expected to start operations in the fourth quarter of 2016, will be equipped to store 1.8 million barrels of oil, with the capacity to handle 80,000 barrels per day of oil production.
Bumi Armada executive director and CEO Hassan Basma said: "The contract for the Block 15/06 field marks Bumi Armada’s largest FPSO contract to date, in both contract value as well as the VLCC vessel, which we will be using for the conversion, and clearly marks our entrance into the top tier of global FPSO players.
"Work on the FPSO for the 15/06 field has already commenced in April with the award of the LOI. We are confident of delivering the FPSO on time and on budget in Q4 2016."
The FPSO order for the 15/06 field will take Bumi Armada’s total FPSO fleet to nine vessels, including an LOI for the Madura BD field.