Bumi Armada Sterling 5. Photo courtesy of Oil & Gas World
KUALA LUMPUR: Bumi Armada Bhd
's 30%-owned Armada Sterling floating production, storage and offloading (FPSO) is anticipated to secure final acceptance from the client by end-1QFY24, despite having achieved first oil later than initially guided, said Kenanga Research.
The offshore facilities and services provider said the Armada Sterling 5 FPSO achieved first oil on Jan 7, 2024, and will now undergo acceptance tests to attain final acceptance, a prerequisite for the commencement of the FPSO charter.
