ENI Angola leases FPSO in Malaysia

2 April 2014

Malaysia’s Bumi Armada Bhd groups has received a letter of intention from ENI Angola, a subsidiary of Italian oil group ENI, to lease a floating production, storage and offloading (FPSO) unit, the group said in a statement.

In the statement issued on its website, the group said that the FPSO would be used in block 15/06 in the Angolan sea and that the letter of intention was addresses to its subsidiaries Bumi Armada Offshore Holdings Ltd and Angoil Bumi JV Lda.

The letter authorises the Bumi Armada group to start the process of converting a large oil tanker into an FPSO unit. It is estimated that production at block 15/06 will begin in October 2016.

Block 15/06 is operated by ENI Angola, which owns a 35 percent stake in it, and the remaining partners are SSI Fifteen Ltd (25 percent), Sonangol P&P (30 percent), Falcon Oil Holdings Angola (5 percent) and Statoil Angola Block 15/06 (5 percent). (macauhub)