Malaysian offshore oilfield services provider Bumi Armada has received a letter of intent (LoI) from Italian oil and gas company Eni, stating its intention to award a $2.9bn contract to provide a floating production, storage and offloading (FPSO) vessel.

Eni awarded the contract to a consortium of Bumi Armada Offshore for the chartering, operation and maintenance of the FPSO vessel for deployment at block 15/06, East Hub located offshore Angola.

As part of the LoI, Bumi Armada will be authorised to commence engineering and procurement work on the FPSO immediately with a contract effective date of 28 March 2014.

According to Bumi Armada, the first oil from the block is scheduled for October 2016.

"According to Bumi Armada, the first oil from the block is scheduled for October 2016."

Bumi Armada CEO and executive director Hassan Basma said: "This LoI is our second largest FPSO award in six months and underscores our successful migration into the large-project FPSO sector.

"This is the second time Eni has turned to Bumi Armada for an FPSO in West Africa and we will continue to collaborate with our tried and tested value-chain, as we have done in the past, to successfully deliver this project for our repeat customer."

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By GlobalData

To be delivered in 31 months, the 15/06 FPSO project is set to take Bumi Armada’s FPSO fleet to eight vessels.

Bumi Armada operates in more than 18 countries spread across five continents, and provides offshore services through five strategic business units.