KUALA LUMPUR: Bumi Armada Bhd's order backlog has increased to more than RM7 billion after inked a RM1.46 billion contract to supply and operate a floating production, storage and offloading (FPSO) system in Australia.
In a statement Friday, Sept 30, Bumi Armada said it had signed the contract with Apache Energy Ltd (Apache), a major Australian oil and gas producer, for the FPSO to be located in block WA-49-L of the Balnaves Field, north-west Australia.
It said the contract was for an initial four-year fixed term time charter with an option of a further four year annual extension period thereafter.
The company said the contract was expected to contribute positively to its earnings for the financial year ending Dec 31, 2011.
Bumi Armada executive director and chief executive officer Hassan Basma said the contract underscored the company's strong engineering capabilities and rising reputation for 'on time, on budget, to high quality' delivery of major projects.
'It signals our entry into the exciting but demanding Australian market and ushers in yet another growth period for the company.
'The contract increases the Bumi Armada order backlog to more than RM 7 billion,' he said.
Hassan said work had already begun with refurbishing an existing FPSO (the former Armada Prima) for this project with the objective of delivering the FPSO for First Oil in the first quarter of 2014.
The long schedule was to synchronise the arrival of the FPSO with subsea installation and cyclone season, he said.
He said the FPSO, named Armada Claire, had been designed with a disconnectable riser turret mooring system for cyclonic weather in 135m water depth.
Bumi Armada owns this TECHNOLOGY [] which allows it to work in cyclone and hurricane-prone areas like South East Asia, Australia, India and Gulf of Mexico, he said.
Hassan said the purpose-built double hull disconnectable FPSO has oil processing capacity of 80,000 barrels (bbls) per day, produced water handling capacity of 30,000 bbls per day, water injection capacity of 60,000 bbls per day, gas re-injection capacity of 53 mmscfd and storage capacity of 750,000 bbls.
The riser turret mooring is designed for four risers, he said.
The transport and installation of the riser turret mooring is the subject of another tender yet to be launched and for which Bumi Armada was a qualified bidder, he said.
In a statement Friday, Sept 30, Bumi Armada said it had signed the contract with Apache Energy Ltd (Apache), a major Australian oil and gas producer, for the FPSO to be located in block WA-49-L of the Balnaves Field, north-west Australia.
It said the contract was for an initial four-year fixed term time charter with an option of a further four year annual extension period thereafter.
The company said the contract was expected to contribute positively to its earnings for the financial year ending Dec 31, 2011.
Bumi Armada executive director and chief executive officer Hassan Basma said the contract underscored the company's strong engineering capabilities and rising reputation for 'on time, on budget, to high quality' delivery of major projects.
'It signals our entry into the exciting but demanding Australian market and ushers in yet another growth period for the company.
'The contract increases the Bumi Armada order backlog to more than RM 7 billion,' he said.
Hassan said work had already begun with refurbishing an existing FPSO (the former Armada Prima) for this project with the objective of delivering the FPSO for First Oil in the first quarter of 2014.
The long schedule was to synchronise the arrival of the FPSO with subsea installation and cyclone season, he said.
He said the FPSO, named Armada Claire, had been designed with a disconnectable riser turret mooring system for cyclonic weather in 135m water depth.
Bumi Armada owns this TECHNOLOGY [] which allows it to work in cyclone and hurricane-prone areas like South East Asia, Australia, India and Gulf of Mexico, he said.
Hassan said the purpose-built double hull disconnectable FPSO has oil processing capacity of 80,000 barrels (bbls) per day, produced water handling capacity of 30,000 bbls per day, water injection capacity of 60,000 bbls per day, gas re-injection capacity of 53 mmscfd and storage capacity of 750,000 bbls.
The riser turret mooring is designed for four risers, he said.
The transport and installation of the riser turret mooring is the subject of another tender yet to be launched and for which Bumi Armada was a qualified bidder, he said.
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