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Malaysia-based international offshore oil & gas services provider, Bumi Armada Berhad announced on the 14th of April that it has agreed with ElectroGas Malta Limited for the conversion, supply and operations and maintenance, respectively, of one floating storage unit (FSU) for the project relating to the construction and operation of an LNG receiving terminal located in Malta.
The Contracts are for a firm period of 18 years and 2 months with an expected aggregated value of approximately 300 million dollars. The FSU is expected to commence operations in 2016.
Commenting on the signing of the Contracts, Mr. Chan Chee Beng, Executive Director and the Acting Chief Executive Officer of Bumi Armada said: “These contracts are a significant milestone for Bumi Armada’s new venture in the promising floating LNG business. The project is of national importance to Malta and we are proud of being entrusted to deliver a critical part of this project.”
