Nigerian Agip Exploration contracts Bumi Armada for FPSO conversion

Nigerian Agip Exploration Ltd. (NAE), a subsidiary of Eni SpA, has awarded Bumi Armada Berhad a five-year fixed time FPSO contract, with a five-year extension period.

Offshore staff

MALAYSIA -- Nigerian Agip Exploration Ltd. (NAE), a subsidiary of Eni SpA, has awarded Bumi Armada Berhad a five-year fixed time FPSO contract, with a five-year extension period. The charter is for the lease and operation of a 1 MMbbl storage capacity FPSO to work in the Oyo field, 70 km (43 mi) off Nigeria.

Bumi Armada Berhad has acquired the Romanian-built vessel,Histria Crown for the conversion into an FPSO with 45,000 b/d of liquid processing capacity. Water and gas injection capabilities will be included in the FPSO's topside.

The new FPSO will be called theArmada Perdana, and first oil is expected in July 2009.

06/19/2008

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