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Bumi Armada JV secures RM127mil ONGC contract for FPSO operations

The Star·03/07/2025 10:12:00
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KUALA LUMPUR: Bumi Armada Bhd's joint venture has secured an award from India's Oil and Natural Gas Corporation Limited (ONGC) for the operation and maintenance of the Armada Sterling II FPSO.

In a filing with Bursa Malaysia, Bumi Armada said the contract, effective from March 8, covers the vessel deployed at ONGC's Cluster-7 Field off the west coast of Mumbai.

It added that the terms and conditions are being finalised into a formal agreement between ONGC and Shapoorji Pallonji Armada Oil & Gas Services Pte Ltd (India) (SPAOGSPL).

The operation and maintenance (O&M) is effective from March 8, for a fixed period of three years with an annual option to extend the charter for up to three additional years.

The fixed 3-year firm O&M period has an estimated total value of INR2.5 billion (RM127mil).

SPAOGSPL is 60%:40% owned by Shapoorji Pallonji Energy Pvt Ltd and Bumi Armada (Singapore) Pte Ltd, a wholly-owned subsidiary of Bumi Armada. ONGC is India's state-owned oil company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE).