ONGC Picks Bumi JV for FPSO Contract

Monday, May 6, 2019

India's state-owned oil company Oil and Natural Gas Corporation (ONGC) has given a Notification of Award for for the US$2.1 billion charter and operations of a floating production, storage and offloading (FPSO) vessel. 

The FPSO is due to be used on ONGC's NELP Block DWN 98/2 Development Cluster-II field, located off the west coast of Kakinada, India.

The contract with Shapoorji Pallonji Bumi Armada Godavari Private (SPBAG), a 30:70 joint venture between Malaysia-based Bumi Armada and Shapoorji Pallonji Oil & Gas Private Limited (SPOGPL) of India, is for a fixed period of nine years.

ONGC has the option to extend the Contract for up to seven, on an annual basis, and if fully exercised, the extensions would be worth approximately US$655 million, said Bumi Armada.

Commenting on the NOA, Leon Harland, Executive Director and Chief Executive Officer at Bumi Armada, said, “This is a very positive result for Bumi Armada. We are extremely proud that our JV with SPOGPL has been awarded our third FPSO project with ONGC. The JV with SPOGPL has been a very successful partnership, this being our third FPSO project together in India and fourth in total. I would like to personally thank everyone involved in securing this project. This is a positive result for the group and the project will add value to Bumi Armada going forward.”

Categories: Vessels Industry News Activity FPSO Oil Production Asia Floating Production

Related Stories

MOL Teams Up with Kinetics for ‘World's First’ Floating Data Center

MOL Teams Up with Kinetics for ‘World's First’ Floating Data Center

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Lankhorst Supplies High-Capacity Slings for Allseas’ Jacket Lifting System

Lankhorst Supplies High-Capacity Slings for Allseas’ Jacket Lifting System

Current News

Iberdrola Picks Up $4.9B to Finance 1.4GW UK Offshore Wind Farm

Perenco Brings Woodside’s Trinidad Oil and Gas Assets Into Its Fold

Vallourec Brings CNOOC, Petrochina as New Clients in Iraq

Germany’s SEFE Inks Three-Year LNG Supply Deal with ADNOC

Subscribe for OE Digital E‑News

Offshore Engineer Magazine