KUALA LUMPUR: Bumi Armada Bhd
’s wholly-owned subsidiary, Bumi Armada Marine Holdings Ltd, has established a joint-venture (JV) with Shapoorji Pallonji And Co Pte Ltd and Cypress Energy Co Ltd to secure the award of a floating, production, storage and offloading (FPSO) project in Ghana.
In its filing with Bursa Malaysia on Wednesday, the offshore oil field services provider said the JV company would be known as Bumi Armada Shapoorji Pallonji Ghana Ltd.
The JV arrangement would enable Bumi Armada Group to expand and carry out its business, as well as mitigate its financial and project risk exposure in any FPSO project awarded by leveraging on the parties’ strong history and experience in fabrication and construction related activities, it said. - Bernama
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