Bullish outlook for Bumi Armada’s Akia PSC venture

HLIB Research said it is leaving its forecast unchanged as details are sparse at this juncture.

PETALING JAYA: Analysts are generally bullish about Bumi Armada Bhd’s latest venture with the Energy and Mineral Resources Ministry of Indonesia for the Akia production sharing contract (PSC) of oil and gas discoveries in the Tarakan Basin in north Kalimantan.

However, they said it will take some years before the venture starts to contribute to the company’s earnings.