Bumi Armada Berhad announced that its joint-venture company, Shapoorji Pallonji in India has received a Notification of Award from Oil and Natural Gas Corporation Limited of India for the operation and maintenance of its FPSO for a fixed period of 3 years.
The group said the maintenance is for the Armada Sterling II Floating Production, Storage and Offloading vessel deployed at the ONGC Cluster-7 Field located off the west coast of Mumbai, India. The terms and conditions of the O&M Award are being finalised into an O&M contract to be signed by ONGC and SPAOGSPL.
The O&M is effective from 8 March 2025, for a fixed period of 3 years with an annual option to extend the charter for up to 3 additional years. The fixed 3-year firm O&M period has an estimated total value of INR2.5 billion (approximately RM127 million).
SPAOGSPL is 60%:40% owned by Shapoorji Pallonji Energy Pvt Ltd and Bumi Armada (Singapore) Pte Ltd, a wholly-owned subsidiary of Bumi Armada. ONGC is India’s state-owned oil company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE).
F
