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ONGC extends FPSO contract with Bumi Armada

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Oilfield Technology,

Bumi Armada Berhad's jointly controlled entity, Shapoorji Pallonji Bumi Armada Offshore (SPBAOPL) has received notification from ONGC about their intention to extend the charter hire of the Armada Sterling FPSO from 20 April 2020.

According to ONGC, approval for formalisation of the contract extension has been delayed due to the COVID-19 lockdown in India. In the meantime, ONGC has requested SPBAOPL to process the case with relevant authorities for obtaining permits/ extension to ensure continuity of operations at site.

Under the original contract signed on 10 August 2011, the Armada Sterling FPSO was chartered by ONGC to operate in the ONGC D1 field located 200 km off Mumbai, India, under a seven-year firm time charter, with six annual extension options. The original seven-year firm charter expires on 19 April 2020.

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