Petrochemical
ONGC to extend Bumi Armada's FPSO contract
Bumi Armada said that its JV company had recently received notification from ONGC, about the oil company's plan to extend the contract of the Armada Sterling FPSO from April 20, 2020
- By ICN Bureau
| April 18, 2020
Oil and Natural Gas Corporation Limited (ONGC) plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited (SPBAOPL).
Bumi Armada said that its JV company had recently received notification from ONGC, about the oil company's plan to extend the contract of the Armada Sterling FPSO from April 20, 2020.
"According to ONGC, approval for the formalisation of the contract extension has been delayed due to the COVID-19 lockdown in India," Bumi Armada said.
It added that ONGC has requested SPBAOPL to process the case with relevant authorities for obtaining permits/ extension to ensure continuity of operations at the site.
ONGC originally chartered the Armada Sterling FPSO for seven years, with six annual extension options. The vessel has been operating in the ONGC D1 field situated 200km off the west coast of Mumbai.
SPBAOP is a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas.
Malaysia-based Bumi Armada owns 49% less one share in SPBAOPL, while the remaining 51% plus one share is held by Shapoorji Pallonji Oil and Gas Private Ltd of India.
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