Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/bumi-armada-receives-loi-for-an-fpso-from-eni-for-.shtmlBumi Armada receives LOI for an FPSO from Eni for block 15/06, Angola
Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad has received a Letter of
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Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad has received a Letter of Intent ('LOI') from eni Angola S.p.A, a wholly-owned subsidiary of eni S.p.A. the Italian multinational oil and gas company, wherein eni Angola has stated its intention to award a contract for the chartering, operation and maintenance of a floating production, storage and offloading vessel ('FPSO') (the 'Contract'), to a consortium of Bumi Armada Offshore Holdings Limited (BAOHL, a wholly-owned subsidiary of Bumi Armada) and Angoil Bumi JV Limitada (ABJL*) for deployment at Block 15/06, East Hub located offshore Angola.
The LOI authorizes Bumi Armada to start engineering and procurement work on the FPSO immediately with a contract effective date of 28 March 2014. First oil is scheduled for end October 2016. The Contract, has an indicative value of approximately USD2.9 billion (equivalent to approximately RM9.5 billion).
