Bumi Armada, Indian firm team up for FPSO job bids

PETALING JAYA: Bumi Armada Bhd and India’s Shapoorji Pallonji and Co Pte Ltd are teaming up to bid for contracts in the floating production, storage and offloading (FPSO) vessel business.
Bumi Armada told the stock exchange last Friday, that it and Shapoorji Pallonji and Co’s unit, Shapoorji Pallonji Oil and Gas Pte Ltd (SPOG), will set up a joint venture to be known as Shapoorji Pallonji Bumi Armada Godavari Pte Ltd (SPBAG) in India.
The joint venture (JV) is to combine the capabilities and expertise of Bumi Armada and SPOG in bidding for the design, fabrication, installation, charter, deployment, and operations and maintenance of FPSO facilities. The joint-venture company will be the entity used by the parties to bid for FPSO projects.
The setting up of the JV involves the interests of a director of Bumi Armada, Shapoorji Pallonji Mistry.
The JV arrangement will enable the Bumi Armada group to expand and carry out its FPSO business , Bumi Armada said.