Bumi Armada has signed a supplementary agreement with LUKOIL for additional Engineering, Procurement, Construction and Installation ('EPCI') scope. The additional scope will involve Bumi Armada’s Subsea Construction assets to lay subsea pipelines and undertake post trenching and back-filling works on sections of the Filanovsky field in the Russian sector of the Caspian Sea. The works are expected to be completed in the second half of 2018 and the total contract value is USD134 million (approximately RM576 million).
Commenting on the supplemental agreement with LUKOIL, Mr. Leon Harland, Executive Director and Chief Executive Officer of Bumi Armada said 'Bumi Armada has been working with LUKOIL in the Caspian since 2012 and this Supplemental Agreement highlights the continuing strong working relationship with our client, and our proven track-record to deliver high quality Subsea Construction services in the Caspian Sea.
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
Headline crude prices for the week beginning 10 February 2020 – Brent: US$53/b; WTI: US$49/b
Headlines of the week
Global liquid fuels
Electricity, coal, renewables, and emissions