Petroleum Africa
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Friday, August 22, 2014
Bumi Armada Berhad (Bumi Armada) signed a contract with ENI Angola and the consortium of Bumi Armada Offshore Holdings Ltd. (BAOHL) and Angoil Bumi JV Lda (ABJL), for the chartering, operations and maintenance of a FPSO for deployment on Block 15/06, East Hub field offshore.
The contract is for a firm charter of 12 years with options of eight yearly extensions. The estimated aggregate value of the contract for Bumi Armada over the charter period is approximately $3 billion, with a further aggregate contract value of $0.9 billion if ENI exercises all the extension options. The FPSO is expected to commence operations in the Block 15/06 field Q4 2016.
Commenting on the signing of the contract, Hassan Basma, executive director and CEO of Bumi Armada 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 commenced in April with the award of the LOI. We are confident of delivering the FPSO on time and on budget in Q4 2016.”
Bumi Armada will be using a VLCC class tanker for this FPSO conversion. The FPSO will utilize an external turret with 18 risers and umbilicals connected to the turret. The FPSO will also have a storage capacity of 1,800,000 barrels while having a crude oil production rate of 80,000 bpd, 120,000 bpd of water injection, and 120,000 Mmcf/d of gas handling capacities.
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