Bumi Armada sells FPSO to Nigerian firm

Photo: Bumi Armada

Bumi Armada, through wholly owned subsidiary Armada Oyo (AOL), has entered into an agreement with Nigeria’s Century Energy Services (CESL) for the sale of the floating production storage and offloading (FPSO) vessel Armada Perdana for a consideration of US$40 million.

CESL plans to redeploy the vessel to another field in Nigeria.

Armada Perdana has been out of contract in Nigeria since its previous charterer, Erin Petroleum Nigeria, along with its parent company Erin Energy Corporation, filed for bankruptcy in April 2018.

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