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Bumi Armada News

16 Nov 2023

ABS Grants Approval for Bumi Armada FLNG Design

(Left to Right): Kevin John Pereira, Bumi Armada, Vice President Engineering; Muhammad Aziz Alkatiri, Bumi Armada, General Manager Projects; Christina Sevajee, Bumi Armada, Vice President, Technology; Rostom Merzouki, ABS Director, Global Gas Solutions; Avik Roy, ABS Manager, Business Development - Credit: ABS

The American Bureau of Shipping has awarded an approval in principle (AIP) to Malaysian floating production firm Bumi Armada for a floating liquefied natural gas (FLNG)  infrastructure design. The new concept incorporates a barge-based liquefaction unit and utilizes existing LNG carriers for storage. ABS completed design reviews based on class and statutory requirements."We are pleased to support Bumi Armada in their ongoing efforts to offer  safe and reliable LNG storage solutions.

06 Sep 2023

ABS Approves Bumi Armada's Floating Concept for Carbon Storage and Injection

Rendering  of the floating carbon storage and injection unit (FCSIU) – Courtesy of Bumi Armada

The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) for Bumi Armada’s pioneering design for a floating carbon storage and injection unit (FCSIU).Bumi Armada’s FCSIU concept is a floating terminal capable of storing and injecting liquified carbon dioxide (LCO2) into depleted oil and gas fields or aquifers. This novel concept incorporates the ability to accept LCO2 deliveries in an offshore setting, the flexibility to manage LCO2 at low or medium pressure…

21 Jul 2023

Armada Kraken FPSO's Production Climbs After Shutdown

Bumi Armada's Armada Kraken FPSO, a production unit operating at EnQuest's Kraken offshore field in the UK North Sea, has increased operational performance following a shutdown in early June.As Offshore Engineer previously reported, the Armada Kraken FPSO was shut in in June following the failure of critical hydraulic submersible pump (HSP) transformers.The Kraken FPSO is deployed at Kraken field under a bareboat charter contract.During the first four months of 2023, the average net production from the Kraken field was 15,910 barrels of oil equivalent per day.On June 21, Bumi Armada said that production had resumed from the FPSO and was at around 60% of pre-shutdown levels.In an update on Thursday…

26 Apr 2023

Bumi Armada Sells Armada Claire FPSO

Malaysian FPSO leasing company Bumi Armada said Tuesday it had completed the sale of the Armada Claire floating production storage and offloading vessel. The FPSO was sold by Bumi Armada's subsidiary, Armada Balnaves."The Armada Claire sale was on an “as is where is” basis, at a sale price of US$20 million. The sale proceeds were received by [Armada Balnaves] on April 19, 2023," Bumi Armada said,Bumi Armada said it would recognize a gain on sale of the Armada Claire FPSO of approximately US$12 million in its second quarter financial results. Proceeds from the FPSO sale, net of transaction fees, will be used to reduce Bumi Armada Group’s corporate debt.

07 Jul 2022

LR Names Abi-Saab Chief Technology and Innovation Officer

Chakib Abi-Saab (Photo: Lloyd’s Register)

Lloyd’s Register (LR) has appointed Chakib Abi-Saab to its newly created role of Chief Technology and Innovation Officer (CTIO). Abi-Saab, who was previously with Bahri (formerly known as the National Shipping Company of Saudi Arabia) as their Chief Technology Officer, joins LR with considerable expertise in technology and digital enablement from both maritime and the oil and gas industry. Before his time with Bahri, Abi-Saab held executive roles at ship management company OSM, offshore energy provider Bumi Armada and Oil and Gas Services provider Baker Hughes.

14 Jun 2022

West Africa Market Harbors Positive Potential for MODU Operators

Chart courtesy MSI

The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition, the implications of Russia’s invasion of Ukraine have only reinforced some of these pre-existing dynamics…

20 Jan 2022

Bumi Armada to Sell Three Ice-class Vessels to Lukoil for $44.5M

Malaysian FPSO specialist and offshore support vessel owner Bumi Armada has decided to sell its icebreaking vessels operating in the Caspian Sea for Lukoil, in line with its plan to exit the offshore marine service business.Bumi Armada said Wednesday that its board of directors had agreed to sell subsidiaries owning Ice-class vessels operating in the Caspian Sea for $44.5 million in cash. The company plans to use $38 million of the proceeds from the sale to reduce debt, with the remaining $6.5 million going toward working capital.The four subsidiaries being sold, collectively referred to as "Ice Class Vessel Companies," are Bumi Armada Marine Uray…

14 Jan 2022

Bumi Armada Winds Up Dormant Subsidiaries

Bumi Armada, a Malaysian offshore service firm and FPSO provider, has decided to wind up its two dormant subsidiaries.The company said that its subsidiaries Offshore Marine Ventures Sdn Bhd and Bumi Armada Ship Management Sdn Bhd, had approved via Special Resolutions at their respective Members’ meetings held on Thursday, December 30, 2021, for the two firms to be voluntarily wound-up. Arulendran Gunedran of RSM Corporate Advisory (Malaysia) Sdn Bhd has been appointed as the Liquidator for the purpose of such winding-up of the Subsidiaries.Offshore Marine Ventures was incorporated on July 22, 2005. OMV was principally involved in activities consisting of the provision of marine transportation and support services to the oil and gas industry.

05 Jul 2021

FPSO Demand Booming: 10 Units Expected to Be Ordered in 2022

Illustration - Image by Igor Kardasov/AdobeStock

More FPSO contracts were awarded in the second quarter of 2021 than during the whole of 2020, with Rystad Energy expecting FPSO awards to reach a total of 10 units in 2021. Rystad has also noted muted interest from suppliers for some recent FPSO tenders, citing a nearly full capacity with several suppliers unable to take on new projects.Further, Rystad sees another 10 FPSO orders in 2022, which will, according to the Norwegian energy intelligence group, create "a very healthy project line-up for contractors…

19 May 2021

Bumi Armada, Shapoorji Pallonji JV to Set Up FSRU in Mumbai Harbour

Mumbai - Credit:  Elena Odareeva/AdobeStock

Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour.SP Armada Clean Energy Ventures Private Limited (SPACEVPL), Bumi Armada's joint venture with Shapoorji Pallonji entered into a license agreement on May 18, 2021,  with the Board of Trustees for the Port of Mumbai to set up, operate, and maintain an FSRU in Mumbai Harbor for a period of 30 years.Under the license agreement…

10 Feb 2021

Cummins QSK95s: Big Electric Power for Conversion of Ariake to FPSO

Oil Tanker, ARIAKE ready for Conversion. (Photo courtesy Cummins/Haig-Brown)

Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil  in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds. The oil can then be pumped off to shuttle tankers that transport it to shore side tanks and refineries.FPSOs are big expensive pieces of equipment. Some of them are converted from ocean going oil tankers. Such is the case with the 333 by 60-meter, very large crude carrier, VLCC Ariake, which was purchased for conversion to an FPSO.

15 Apr 2020

ONGC to Extend Armada Sterling FPSO Contract

File Photo: Armada Sterling - Credit: Keppel Corp.

Indian oil and gas company ONGC plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited.Bumi Armada said Wednesday that its JV company had recently received notification from ONGC, about the oil company's plan to extend the contract of the Armada Sterling FPSO from April 20, 2020. "According to ONGC, approval for the formalisation of the contract extension has been delayed due to the COVID-19 lockdown in India…

22 Nov 2019

FPSO Vessel Revenue to Reach $8.30Bln by 2026

The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO vessel market, said a report by Transparency Market Research Market (TMR).On the basis of geography, Latin America held a large share until 2016. In the upcoming years Brazil is projected to hold a major share in the global floating production storage and offloading vessel market.

12 Nov 2019

Southeast Asia Bullish on OFS Market

Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, said Rystad Energy.According to Norwegian energy research firm, the growth will be driven by a handful of new mega-projects across Malaysia, Myanmar and Vietnam, according to the latest tally of project commitments in Southeast Asia by the Norwegian energy research and consulting firm.New final investment decisions (FIDs) in 2021 are expected to sound the starting gun for big contract awards in Vietnam, Indonesia and even politically-troubled Brunei.“We anticipate that operators will aim to place most of the associated contracts within their domestic markets…

10 Sep 2019

Bumi Armada Sells FPSO for $40 Mln

Malaysian oilfield services company Bumi Armada Bhd has found a buyer for its floating production storage and offloading (FPSO) vessel Armada Perdana in Nigerian company Century Energy Services (CESL) for RM167.17 million ($40 million).Kuala Lumpur-based floater player said in a Bursa Malaysia filing that its subsidiary, Armada Oyo Limited (AOL), had entered into an agreement with CES) for the sale of the Armada Perdana.CESL plans to redeploy the vessel to another field in Nigeria, said the statement.CESL has already paid $4.5 million out of a $5.5 million deposit to AOL, with the outstanding amount to be satisfied before the end of the year.Additional vessel expenses incurred from August 1 until the delivery date of the FPSO will be offset against the purchase price.Then…

04 Sep 2019

NOV to Supply STP System

National Oilwell Varco, a provider of equipment and components used in oil and gas drilling and production, announced new contract award for submerged turret production (STP) system.APL, part of NOV's Completion & Production Solutions segment, has been awarded the supply of another large STP system, said a press release from NOV.This follows a recent  contract award from Samsung Heavy Industries Co. Ltd. for Reliance Industries' FPSO on the MJ field.This time, the system will be provided to a joint venture between Shapoorji Palloonji Oil and Gas and Bumi Armada Berhad. The STP system will be used for an FPSO vessel that will be deployed on the East Coast of India.The STP system is a unique and flexible turret mooring system for FPSOs.The STP swivel…

27 May 2019

Bumi Armada Profit Up 28.5% in Q1

Malaysia's offshore oilfield services firm Bumi Armada announced that its first-quarter net profit jumped 28.5% on-year, mainly thanks to joint ventures, lower cost of sales, and lower distribution costs.Net profit for the January-March period climbed to 62.21 million ringgit ($14.86 million), compared with a 48.42 million in the same quarter a year ago, said a stock exchange announcement.However, its revenue fell by 18.1% to RM491.61mil from RM600.34mil a year ago. The compay said floating production and offloading (FPO) business reported lower revenue of RM425.6mil due to lower revenue from Armada TGT 1 FPSO, with the vessel now in…

27 Feb 2019

Global FPSO Market to Hit USD30Bln by 2025.

The floating storage and offloading (FSO) vessel market is anticipated to surpass USD 30 billion by 2025, said a study.The FPSO market is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves, said a market report by GM Insights.Development challenges including excessive costs, material transportation, environmental conditions and decommissioning associated with fixed infrastructures will further shift the industry focus toward the utilization of these vessels as an alternative, it said.Furthermore, advancement in subsea technologies along…

11 Feb 2018

Encik Rezza Resigns as ED of Bumi Armada Berhad

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan, Executive Director and Head of Offshore Marine Services (OMS) of Bumi Armada Berhad. Encik Rezza will officially relinquish his roles at the Group on the 28 of February 2018. He has requested an early release from the Group to pursue other interests outside the Group. Rezza joined Bumi Armada in September 2005 and prior to his current role as Head of the OMS business, he was the CFO. Bumi Armada Chairman Tunku Ali Redhauddin ibni Tuanku Muhriz said "I would like to thank Rezza for his contributions over the last 13 years and his dedication to grow the Company to what it is today.

13 Aug 2017

Bumi Armada Bags Additional Contract from Lukoil

Bumi Armada Bhd’s wholly-owned unit, Bumi Armada Caspian LLC, has signed a supplementary agreement worth RM576 million (USD 134 million) with Lukoil-Nizhnevolzhskneft LLC (Lukoil) for an additional engineering, procurement, construction and installation (EPCI) scope of work in Russia. Back in December 2013, Bumi Armada had bagged a 10-year, US$262 million contract from Russia’s Lukoil-Nizhnevolzhskneft Ltd. Bumi Armada said the additional scope will involve BAC’s marine spread to lay subsea pipelines and undertake post trenching and back-filling works on sections of the Filanovsky field in the Russian sector of the Caspian Sea. The works on the 20km of various pipelines will involve the Armada Installer and Armada Constructor vessels…

21 Jul 2017

Standard Club Establishes New Offshore Advisory Committee

The Standard Club is driving developments in offshore P&I with the launch of the Standard Club Offshore Advisory Committee (SCOAC). SCOAC aims to analyse offshore trends, assist the club in further understanding and disseminating industry best-practice and develop new strategies to provide a focused direction for the benefit of the club’s offshore membership. The committee consists of leading offshore players including Allseas Group, Bumi Armada, Floatel International, Nortrans Offshore, Saipem, SBM Offshore and Subsea 7 – all members of The Standard Club. The members of the committee are senior figures in the offshore industry with extensive experience and knowledge allowing them to provide invaluable insight to the committee which in turn will be shared with the wider membership.

10 Apr 2017

LR to Perform Armada Olombendo FPSO Risk Inspection

Lloyd's Register has won an inspection contract with Bumi Armada Berhad for its Armada Olombendo FPSO. The contract agreement provides Bumi Armada with access to Lloyd’s Register’s risk-based inspection services and technical software which will help to develop quantifiable risk profiles. These profiles will give critical knowledge and insight for Bumi Armada Berhad’s management team on how best to approach short and long term CAPEX/OPEX decisions. The built-in risk inspection strategies used in the contract with Lloyd’s Register also provides a robust template for Bumi Armada Berhad’s baseline inspections and maintenance program while ensuring resources are focused on the high priority items first.

24 Oct 2016

Bumi Armada Berhad Names Its News FPSO

Naming Ceremony of Armada Olombendo (Photo: Bumi Armada)

Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider celebrated the naming ceremony of the Armada Olombendo Floating Production Storage and Offloading (FPSO) last weekend. Armada Olombendo FPSO represents Bumi Armada’s largest FPSO and it will operate in Angola on Block 15/06, East Hub, a wide area of 2,984 square-kilometer (km2) in the Angolan deep offshore, located approximately 350 km northwest of Luanda and 130 kilometer west of Soyo.