Bumi Armada’s unit wins RM576m Lukoil contract

Bumi Armada Bhd’s wholly owned unit, Bumi Armada Caspian LLC (BAC), has signed a RM576 million supplementary agreement with Lukoil-Nizhnevolzhskneft LLC for engineering, procurement, construction and installation (EPCI) scope of works.

The additional scope will involve Bumi Armada’s subsea construction assets to lay sub-sea pipelines and undertake post trenching and back-filling works on sections of the Filanovsky field in the Russian sector of the Caspian Sea.

Project preparation activities have already begun and the works are expected to be completed in the second-half of 2018, the company told Bursa Malaysia last Friday.

The agreement is expected to contribute positively towards group earnings, particularly its offshore marine services segment, during the tenure of the contract period, the company said.