Bumi Armada Secures Contract Extension for FPSO Armada Perkasa

Bumi Armada Berhad, an international offshore oil and gas services provider, announced last week that Afren Energy Resources Limited has exercised the first of the 5 one year extensions from the original contract for the FPSO Armada Perkasa with effect from 1 July 2013.

The contract extension for the Armada Perkasa, which has been operating offshore Nigeria in the Okoro-Setu field, is estimated at approximately RM 100 million in total.

Mr Hassan Basma, Executive Director/Chief Executive Officer of Bumi Armada said, “Our Armada Perkasa, has been operating for Afren since 2008 with 99.8% uptime and it achieved its 1,000 days without LTIs in July this year. This contract extension underscores our international expansion and consolidation in our strategic markets of Africa, particularly in the Gulf of Guinea.”

The Armada Perkasa, which is 211.2 m long and weighs 58,557 deadweight tonnes, has a production capacity of 27,000 bbls/day of liquids and storage capacity for 360,000 barrels. The FPSO underwent a recent de-bottlenecking which takes the potential production capacity from 27,000 to 35,000 bbls/day of fluids. To date, the FPSO has lifted over 24 million barrels of oil.

The original contract was a fixed term of five years with five one year extension options thereafter.

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Bumi Armada, October 29, 2012