Sigma Offshore Receives Indian Ocean Engineering Contract
- Business & Finance
Sigma Offshore, the international FPSO turret mooring and marine engineering services company, has secured a contract for a key project which forms part of a multi-billion pound development in the Indian Ocean.
Aberdeen-based Sigma Offshore is to provide Bumi Armada with engineering support for a £40m-plus ($62.2m) turret mooring system for a floating, production, storage and offloading (FPSO) vessel in the Cluster-7 field in India.
Bumi Armada’s 50:50 joint-venture with Shapoorji Pallonji and Company Limited (SPCL) of India has been awarded a charter contract potentially worth £707m (US$1.1bn) to provide a FPSO vessel for India’s Oil and Natural Gas Corporation Limited’s (ONGC) Cluster-7 field. The FPSO will be operated by SP Armada, the joint venture (JV) set up by Bumi Armada and SPCL.
The FPSO will be owned and operated by SP Armada in the ONGC C-7 field located approximately 210km (130 miles) off the western coast of Mumbai, India. The FPSO is due to be delivered in November, 2014. Sigma also provided turret engineering in support of Bumi Armada for the FPSO Armada Sterling supplied for the D1 field in 2012 and which is now producing.
Alistair Dornan, President and Chief Executive Officer of Sigma Offshore, said: “This is a significant contract for Sigma Offshore. We’ve developed an excellent relationship with the Bumi Armada team and we’re looking to build on this with a view to tendering for future opportunities in the region and further afield. With our client based in Malaysia for a field development offshore India – and using engineering support from the UK – it truly shows the international nature of the modern-day upstream sector.”
Bob Coates, Chief Operating Officer at Sigma Offshore, said: “The majority of the work on the Indian Ocean project will be carried out by our experienced team in Aberdeen and London. Our success in landing this prestigious contract is testimony to the expertise and capability of our engineers.”
While the value of the Sigma contract is not being disclosed, the project is a part lump sum and part variable agreement.
Press Release, September 12, 2013