Bumi Armada Berhad awarded a contract to provide a floating production, storage and offloading (FPSO) vessel to Nigerian Agip Exploration Ltd (NAE), a subsidiary of Eni SpA. Bumi Armada beat 2 other major international FPSO contractors to win the five year fixed time charter with a five year extension period of the leasing and operation of one million barrel storage capacity FPSO to work in the Oyo field (OML 120), 70Km off the coast of Nigeria.
The company has acquired the Romanian built vessel, 'Histria Crown' for the conversion into an FPSO with 45,000 BLPD processing capacity and storage capacity of 1000,000,00 barrels of processed oil. Water and Gas injection capabilities will be included in the FPSO's Topside. This new FPSO will be known as the "Armada Perdana" and First oil is expected in July 2009.
