Bumi Armada-Shapoorji Pallonji JV Secures Major ONGC Contract

Bumi Armada Berhad and Shapoorji Pallonji Oil & Gas Services’ joint venture, SP Armada, has received a Notification of Award from Oil and Natural Gas Corporation (ONGC) of India. The contract involves the charter hire and operation of a Floating Production Storage and Offloading (FPSO) vessel for ONGC's offshore projects. This marks their third FPSO collaboration with ONGC, reinforcing their successful partnership. The project, valued at $2.1 billion for nine years with optional extensions, will significantly enhance oil production capabilities in India’s offshore fields.
Source : NS Energy Business