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Bumi Armada sells FPSO for $40m
Malaysia’s Bumi Armada has entered into an agreement with Nigeria’s Century Energy Services Limited (CESL) for the sale of the Armada Perdana FPSO for $40m. The FPSO, which has been out of contract in Nigeria since last year, will be deployed by CESL to a field off Nigeria. Armada Perdana has been out of contract since charterer Erin Petroleum Nigeria and parent company Erin Energy Corporation filed for chapter 11 in the US in April 2018.
Legal Dispute Forces Shutdown of Bumi Armada FPSO
Offshore services firm Bumi Armada Berhad has had to shut down the FPSO Armada Perdana at Nigeria's Oyo field due to a legal action on shore. In a notice provided to Bumi Armada, lease operator Erin Petroleum Nigeria Ltd (EPNL) asserted that an unspecified "force majeure event" had occured. EPNL, a subsidiary of Houston-based Erin Energy, asked for an orderly shutdown of the Perdana's operations. In addition, EPNL notified Bumi Armada that all the crude oil to be produced and stored on board the Perdana has been seized/attached by a court in Lagos. The action relates to a legal matter involving a third party and does not involve Bumi Armada directly, the firm said.
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