Fugro & Bumi Armada in Offshore Joint Venture
Fugro and Malaysia Oilfield Services company, Bumi Armada Berhad, are entering into a Joint Venture to target to the well services industry.
The new venture, in which Fugro has a 49% interest and Bumi Armada a 51% interest, will feature a multi-disciplined team made up of members of both companies with skills in marine operations, well intervention and drilling operations.
The new company will leverage the strengths of each party to develop new lines of business in the fast expanding well services segment, and will widen each companies offering to their respective client bases.
Bumi Armada Berhad is a Malaysia-based international offshore oilfield services provider with a presence in over 18 countries spread across five continents. They provide offshore services via five strategic business units: Floating Production, Storage and Offloading, Offshore Support Vessels, Transport and Installation, Oilfield Services and Gas Development and Technology.