Bumi Armada Secures Charter Contract for PSV Armada Tuah 301 in Brazil

Malaysia-based international offshore oil field services provider, Bumi Armada Berhad, announced that its subsidiary, Bumi Armada Navigation Sdn Bhd, has been awarded another four-year charter and operations contract by Brazilian oil and gas major, Petróleo Brasileiro S.A. (PETROBRAS) for its Platform Supply vessel (“PSV”) Armada Tuah 301 (“AT301”).

The 75 m long PSV with DP2 capability will be supporting operations with multi-purpose functions of transporting cargo (such as fresh water, diesel, bulk cement, materials and equipment) between platforms, rescue and personnel transfer for PETROBRAS in the Brazilian continental shelf. With a deadweight of 3000 tonnes, the AT301 is Bumi Armada’s first PSV, complementing its fleet of over 40 OSVs.

The four-year contract comes with an extension of a further 4 years, and the total award is estimated to be valued at approximately RM 115 million. The contract is expected to be effective by the second quarter of 2012.

Commenting on the award, Bumi Armada’s Executive Director and CEO, Mr Hassan Basma said, “This is our third contract with PETROBRAS following close on the heels of the recent contract for our Armada Tuah 102 which is now in Brazil. This complements our Armada Tuah 104 which has been operating offshore Brazil since June 2011.”

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Source: Bumi Armada, March 21, 2012