The loan is being provided by Oversea-Chinese Banking Corp, Maybank, Sumitomo Mitsui Banking Corp, United Overseas Bank, Export-Import Bank of Malaysia and the Korea Development Bank.

“The Kraken FPSO in the North Sea marks the start of Bumi Armada’s entrance into the top-tier of FPSO players,” said Bumi Armada chief executive Hassan Basma.

“With a project of such magnitude, it is important to secure the capital required to enable us to see through the project.”

Bumi