Bumi Armada, Eni Ink FPSO Deal Off Angola
- Business & Finance
Bumi Armada Berhad was awarded a contract by Eni Angola S.p.A. for the chartering, operation and maintenance of an FPSO tanker facility complete with Mooring System at the Block 15/06 East Hub field, located in deep water offshore Angola.
The contract is for a firm charter of 12 years with options of 8 yearly extensions.
The estimated aggregate value of the contract for the firm charter period is approximately USD3.0 billion, with a further aggregate contract value of USD0.9 billion if Eni Angola exercises all the extension options in full.
The FPSO is expected to commence operations in the Block 15/06 field in the fourth quarter of 2016.
August 20, 2014; Image: Total