Bumi Armada Berhad

Bumi Armada Berhad’s wholly owned subsidiary Bumi Aramada Offshore Holdings was awarded a contract worth about USD 1.18 billion—together with joint venturer Armada Gema Nusantara—to supply and operate a floating production, storage, and offloading vessel for Husky-CNOOC Madura Limited. The vessel will be used at the Madura BD field, approximately 10 miles south of Madura Island, offshore Indonesia. The contract has a firm charter period of 10 years with options for five annual extensions. Operations are expected to start in the fourth quarter of 2016.