Bumi Armada Achieves First Oil on the "Armada Kraken" FPSO

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad (“Bumi Armada” or “the Group”) announced that its Armada Kraken FPSO achieved first oil on the Kraken field in the UK North Sea. Meanwhile, the production rate is being increased in a phased manner and the FPSO will be further commissioned for final acceptance.

Commenting on the delivery of first oil on the Armada Kraken FPSO, Mr. Leon Harland, Executive Director and Chief Executive Officer of Bumi Armada said, “Achieving 1st oil on the Armada Kraken FPSO is an important milestone, as we work to deliver oil for our clients, Enquest PLC and Cairn Energy PLC, and work towards receiving the charter income for Bumi Armada. The commissioning and operating teams have made tremendous efforts to achieve this milestone while remaining focused on safety of all people onboard the FPSO, as well as the integrity of our asset.

The Armada Kraken is the third out of four FPO projects that Bumi Armada is starting-up this year. She is our first ever heavy oil production facility and has the largest liquid handling capacity in our fleet (460,000 bbls of liquid per day) and she marks Bumi Armada’s entry into the North Sea as a production facilities owner, operator and duty holder. These are positive steps for the Group, as we continue to increase cash flows and revenues from the four major projects that were under construction in the last three years.”