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).

Tags: Bumi Armada Berhad, Eni S.p.A.