Bumi Armada has confirmed the sale of an out of contract FPSO left in the lurch by the bankruptcy of its previous charterer.

The Malaysian FPSO specialist will receive $40m for the Armada Perdana FPSO from Century Energy Services Limited (CESL).

The buyers intend to redeploy the converted suezmax tanker to another field off Nigeria, according to Bumi Armada.

CESL has already paid a deposit of $4.5m