Monday, 16 April 2012

Bumi Armada secures RM614m contract from Lukoil

KUALA LUMPUR (April 16) : Bumi Armada Bhd will offer oil and gas support services to Russia-based OAO Lukoil in deal worth an estimated U$200 million (RM614 million)

In a statement to Bursa Malaysia on Monday, Bumi Armada said the offshore job includes engineering, procurement, installation and pre-commissioning of subsea in-field and inter-field pipelines for the Filanovsky field in the Caspian Sea.

“The contract valued at approximately US$200 million is expected to contribute positively to the revenue and earnings of Bumi Armada group for the financial year ending December 31, 2012 and the financial periods thereafter for the duration of the contract.

“The risks associated with the contract are normal operational risks which can be mitigated through Bumi Armada’s system of project management and internal business controls,” Bumi Armada said. A major portion of the 32 month-contract is due for completion by end 2014, according to the firm.

Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or for more details.
Related Posts Plugin for WordPress, Blogger...