Bumi Armada bags its biggest FPSO job

Bumi Armada Bhd chief executive officer and executive director Hassan Basma

PETALING JAYA: Bumi Armada Bhd has won its largest floating production, storage and offloading vessel (FPSO) job to date for a deepwater oilfield offshore Angola valued at US$2.9bil (RM9.5bil), with the conversion alone likely to cost some US$1.5bil (RM4.91bil).

This exceeds the US$1bil (RM3.27bil) in capital expenditure (capex) Bumi Armada is expected to charge for the Kraken FPSO, which it had clinched last November.