Bumi Armada subsidiary gets US$740m contract from India's ONGC

KUALA LUMPUR: Bumi Armada Bhd's subsidiary has secured a US$740mil contract from India's Oil and Natural Gas Corporation Ltd (ONGC) to provide a floating production, storage and offloading vessel.

It said on Monday SP Armada Oil Exploration Private Ltd had received a notification of award from ONGC. It owns 49.998% of SP Armada while 50.002% is owned by Shapoorji Pallonji and Company Ltd of India.