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Bumi Armada sees 1Q profit rise despite revenue decline
2019-05-27 - Malaysian OSV and FPSO leasing company Bumi Armada has posted a rise in net profit for the first quarter of 2019. Illustration: Armada TGT FPSO / Image supplied by Soco International; Photographer: John Hepler The company’s net profit was 62.2 million Malaysian ringgit, up from RM 48.7 million a year ago. "The increa..
EnQuest boasts 25 pct production growth driven by North Sea assets
2019-05-23 - London-listed oil and gas company EnQuest recorded a 25 percent production growth in the first four months of the year driven by strong production from its UK North Sea assets. The Magnus Platform; Source: KCA Deutag In an operational update on Thursday EnQuest said that, in the four months to end April 2019, its product..
Bumi Armada gets breathing space as it refinances debt
2019-04-24 - Malaysia's offshore energy vessels and services provider Bumi Armada has signed documentation related to its short-term corporate debt refinancing. Armada Kraken FPSO / The image has been cropped / Image source: kees torn / Flickr. Shared under CC BY-SA 2.0 license Bumi Armada on Wednesday said it had refinanced its uns..
Bumi Armada dissolves U.S. subsidiary citing cost reduction
2019-03-15 - Malaysian provider of offshore vessels and FPSOs Bumi Armada has dissolved its U.S. subsidiary company Bumi Armada Americas, to reduce costs. For illustration only; A Bumi Armada FPSO/ Photo by Frans Berkelaar - Flickr / Shared under CC BY-ND 2.0 license "Bumi Armada Berhad wishes to announce that its indirect wholly-owne..
EnQuest says Kraken reserves unchanged after Cairn downgrade
2019-03-12 - There's no change in Kraken field's 2P reserves, EnQuest, the operator of the North Sea oil field said following a partner's report downgrading the reserve estimates. Illustration: Armada Kraken FPSO being towed by ALP tugs / Image source: ALP Maritime Namely, Cairn Energy, in its full-year report on Tuesday, said it had ..
Bumi Armada slumps to loss on impairments. CEO set to leave
2019-03-04 - Malaysia's FPSO and OSV leasing company Bumi Armada is parting ways with its Chief Executive Officer Leon Harland, who will be leaving the company on May 15. Armada Kraken FPSO / The image has been cropped / Image source: kees torn / Flickr. Shared under CC BY-SA 2.0 license In a statement last week, Bumi Armada said tha..
Guardian Geomatics inks survey services deal with Ocean Infinity
2018-12-03 - Houston-based seabed intelligence provider Ocean Infinity has awarded a contract for the provision of survey services to Australia-based Guardian Geomatics. Island Pride; Source: Island Offshore Guardian Geomatics said on Monday that it would provide management, field personnel, QC, processing, and deliverable reporti..
EnQuest makes first crude oil transfer at Sullom Voe in three years
2018-09-14 - London-listed oil company EnQuest has made a ship-to-ship transfer of crude oil at the Port of Sullom Voe, Shetland, for the first time in almost three years.  Oil tanker Heather Knutsen in Halifax Harbour; Photo: Dennis Jarvis; Source: Wikimedia - under the CC BY-SA 2.0 license EnQuest said on Friday that the transf..
Bumi Armada to pay $15 million for Kraken FPSO settlement
2018-08-29 - Malaysia's FPSO operator Bumi Armada has agreed to pay $15 million to oil company EnQuest to settle the previous issues with the Kraken FPSO. Armada Kraken FPSO / Image by kees torn/Flickr; Shared under CC BY-SA 2.0 license Bumi Armada delivered the Kraken FPSO in February 2017 to the EnQuest-operated Kraken field in the ..