Bumi Armada sells FPSO for $40m

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Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has entered into an agreement with Nigeria’s Century Energy Services Limited (CESL) for the sale of the Armada Perdana FPSO for $40m.

The FPSO, which has been out of contract in Nigeria since last year, will be deployed by CESL to a field off Nigeria.

The Armada Perdana FPSO has been out of contract in Nigeria since its previous charterer, Erin Petroleum Nigeria Ltd, along with its parent company Erin Energy Corporation, filed for bankruptcy under Chapter 11 of the US Bankruptcy Code in April 2018.