FPSO progress a good sign

AmInvestment Bank said the FPSO vessel had been in idle since December 2022 and received in-lieu standby payments since March 2023.

PETALING JAYA: The commencement of oil production for Bumi Armada Bhd’s floating production storage and offloading (FPSO) vessel, the Armada Sterling V, will bode well for the company’s financial earnings in 2024.

AmInvestment Bank said the FPSO vessel had been in idle since December 2022 and received in-lieu standby payments since March 2023.