Bumi Armada in $280M Charter Deal with Lukoil

By MarEx 2013-12-03 08:53:00

Malaysia's offshore oil field services firm Bumi Armada Bhd said on Tuesday it will lease six marine vessels to Russian oil firm Lukoil-Nizhnevolzhskneft in charter contracts worth up to $280 million.

The vessels, due for delivery as early as November next year, will support Lukoil-Nizhnevolzhskneft's oil and gas operations within the Filanovsky field at the Caspian Sea, according to Bumi Armada's stock exchange filing.

Bumi Armada shares dropped 2 percent to 3.92 ringgit per share prior to the announcement, underperforming the benchmark stock index's 0.55 percent rise.

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