Bumi Armada Berhad inks MYR567.6m pipelay deal with Lukoil

Here's proof of its growing strength in the Caspian Sea.

According to OCBC Investment Research, Bumi Armada Berhad’s wholly-owned subsidiary, Bumi Armada Caspian LLC, has signed a MYR567.6m (USD178.5m) contract with OOO LUKOIL-Nizhnevolzhskneft (Lukoil) for pipelay work in the Filanovsky and Korchagin fields of the Caspian Sea.

The client is a subsidiary of OAO Lukoil, one of the largest privately-owned oil-and-gas companies in the world by proven reserves.

Here's more:

The scope of work includes engineering, procurement of line pipes and associated appurtenances and installation and precommissioning of six infield/inter-field lines, for a total length of approximately 40 km.

The work will be carried out using Bumi Armada’s derrick pipelay barge, the Armada Installer. Majority of the construction is expected to be carried out and completed in 2015. With the new contract, the group’s transportation and installation (T&I) order backlog increases to over MYR2b (USD 629.4m).

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