Sign up | Log in



Home  >>   Daily News  >>   Malaysia  News  >>   Energy  >>   Malaysian firm wins floating vessel deal
NEWS UPDATES Asean Affairs                  1 October  2011 

Malaysian firm wins floating vessel deal

Related Stories

August 22, 2011
 Indonesia closes tin tax loopholes

August 2, 2011
Indonesia could lower palm oil tax

July 1, 2011
First Malaysian palm oil refinery in Indonesia

June 27, 2011
Indo government puts controls on sugar

March 31, 2011
New Indo palm oil factory starts

March 19, 2011
New Indo Nickel Smelter and Power Plant

March 14, 2011
Indonesia buys Indian corn


Offshore oil field services contractor Bumi Armada Bhd has secured a RM1.46 billion (US$456.7 million) deal to supply and operate a floating, production, storage and off-loading vessel (FSPO) for Apache Energy Ltd at Block WA-49-L of the Balnaves oil field in northwest Australia.

The contract from the Australian oil and gas producer, which is a subsidiary of US-based Apache Corp, is for an initial four-year fixed term, with an option for a four-year annual extension.

“The contract will increase the company’s order backlog to more than RM7bil,” said Bumi Armada executive director and chief executive officer Hassan Basma.

He added that the project was expected to begin contributing to the company’s revenue and earnings from the current financial year ending Dec 31.

Work has already begun with the refurbishment of an existing FPSO for the project. It is targeted for delivery in the first quarter of 2014 when Apache is expected to begin first production in the field that it discovered two years ago.
The purpose-built double-hull disconnectable FPSO will be named Armada Claire. It comes with an oil processing capacity of 80,000 barrels per day, produced water handling capacity of 30,000 barrels per day, water injection capacity of 60,000 barrels per day, gas re-injection capacity of 53 million metric standard cu ft per day and storage capacity of 750,000 barrels.

According to the International Maritime Associates, an estimated 120 FPSO will be needed over the next five years. This represents an increase of 77% from 2011 to 2015.

UBS in its recent report said it believed Bumi Armada was well positioned to tap this growth. It expected the company to increase its FPSO contracts from five by the end of this year to eight by 2013.

Given the still strong crude oil prices, analysts believe Bumi Armada is set to benefit from sustained global oil and gas capital expenditure.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    1 October  2011 Subsribe Now !
  Indonesian building surge calls for cement Subcribe: Asean Affairs Global Magazine
 Unilever expansion a good sign for Indonesia Asean Affairs Premium
 Malaysian firm wins floating vessel deal
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

Myanmar suspends dam
Older workers gain in Singapore
Thai corporate cuts may cut tax base
Manufacturing drives Thai growth
pp pp

Asean Analysis               30  September  2011

Advertise Your Brand
• Chinese trains for Asean? Sponsor Our Events

Asean Stock Watch   30  September  2011

• Asean Stock Watch-September 30 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand