The LOI authorizesBumi Armada to start engineering and procurement work on the FPSO immediately.First oil is scheduled for end October 2016.
TheMalaysian offshore company secured the contract from Eni Angola, a subsidiary ofthe Italian multinational oil and gas company.
Thisproject is Bumi Armada’s first VLCC-tanker conversion and will employ the301,963-dwt Armada Ali (ex Osprey, built 1999).
“This LOI is our second large capex of more than$1bn FPSO award in six months and underscores our successful migration into thelarge-project FPSO sector,” said Bumi Armada chief executive Hassan Basma.
“Thisis
