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

Woodside Finds South Korean Partners to Advance LNG Value Chain

Woodside Finds South Korean Partners to Advance LNG Value Chain

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

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

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Current News

Masdar, RWE Get Closer to Official Go-Ahead for 3GW UK Offshore Wind Farms

Arabian Drilling Secures Five Jack-Up Rig Extensions

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Expro Gets Woodside Job at Trion Deepwater Project off Mexico

Subscribe for OE Digital E‑News

Offshore Engineer Magazine