Bumi Armada Bhd's floating production storage and offloading (FPSO) vessel Armada TGT1 has secured a two-year charter extension worth US$74.4 million (RM330.93 million) by Vietnam's petroleum producer Hoang Long Joint Operating Co for the Te Giac Trang field located offshore Vietnam.
KUALA LUMPUR (Nov 13): Bumi Armada Bhd (KL:ARMADA) said its floating production storage and offloading (FPSO) vessel, Armada TGT1, has secured a two-year charter extension worth US$74.4 million (RM330.93 million).
The bareboat charter contract was extended by Vietnam's petroleum producer Hoang Long Joint Operating Co for the Te Giac Trang field located offshore Vietnam, said Bumi Armada in a bourse filing on Wednesday.
It said that since commencing operations at the Te Giac Trang field project in August 2011, the Armada TGT1 has achieved an average oil and gas uptime of more than 98% and zero lost time incidents.
Bumi Armada shares closed half a sen or 1% higher at 49.5 sen on Wednesday, valuing the company at RM2.93 billion.
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