PETALING JAYA: Bumi Armada Bhd
’s outlook for the fourth quarter of 2023 (4Q23) appears brighter, as its floating production, storage and offloading (FPSO) Kraken will be running and most likely achieve 100% utilisation, say analysts.
Hong Leong Investment Bank (HLIB) Research said it expects the company to register sequential earnings growth in the coming quarter premised on better quarterly earnings from FPSO Kraken, as well as first oil being achieved in Oil and Natural Gas Corp’s (ONGC) KG-DWN98/2 in the coming weeks.
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