Looks like Malaysian FPSO players are on a roll in the Angola scene. 2 recent contract wins for Yinson (BP and Eni), and now a win for Bumi Armada (TotalEnergies).
Anybody have further information on this project? Where is the team responsible to develop this project coming from? Any involvement of Shapoorji O&G in this?
Also, are FPSO contracts of these nature common, where the contract is just an EPC contract, rather than a lease contract? As I understand it, Bumi Armada will just design and build the FPSO, and then hand it over to TotalEnergies for ownership and operation. This is unlike all their previous FPSOs, where they design, build, own and operate the vessels.
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https://www.upstreamonline.com/exclusive/fr...ola/2-1-1297568
Front runner emerges to supply FPSO for TotalEnergies offshore Angola
TotalEnergies has chosen its preferred contractor to provide a floating production, storage and offloading vessel for the Cameia-Golfinho project offshore Angola, which will be the first development in the Kwanza basin.
The French supermajor’s decision came just weeks after Eni and BP — which subsequently joined forces in Angola to form the Azule Energy joint venture — chose Yinson to supply FPSOs for the Agogo and Palas- Astrea-Juno (PAJ) projects, marking a much-needed resurgence in upstream activity in the country after years of falling investments.
Between them, the Cameia-Golfinho, Agogo and PAJ developments could boost Angolan production by more than 300,000 barrels per day — welcome news for a nation that in July became Sub-Saharan Africa’s biggest oil producer, surpassing Nigeria and averaging 1.177 million bpd.
Contracting sources in Asia and Europe told Upstream that Malaysian offshore contractor Bumi Armada is leading the race to land the deal for provision of an FPSO with production capacity of 100,000 bpd.
Bumi completed the front-end engineering and design work for the floater late last year and its commercial proposal is very competitive, sources said.
Some project watchers suggested TotalEnergies signed a letter of intent with the Kuala Lumpur-based FPSO player early this week, but this could not be confirmed.
“The LoI was scheduled for signing Monday, though it is not sure the signing ceremony took place,” said one source.
Another contact familiar with the tender process said: “I know they (Bumi) are leading and going ahead.”
Kuala Lumpur sources claimed Bumi has a conditional letter of award for Cameia FPSO.
Upstream understands there are expected to be several months of pre-engineering work on the FPSO before a formal award is made by February 2023.
The contract up for grabs is said cover engineering, procurement and construction, with TotalEnergies owning the vessel after delivery.
Saipem working with MISC was said to be other remaining bidder in the race, with the Malaysian rumour-mill suggesting MISC had high hopes for this job — especially with Saipem on board.
Also jostling for the prestigious job have been Technip Energies of France working with Malaysia’s Yinson.
Upstream understands the Technip Energies-Yinson group may have withdrawn from the bid process due to commitments elsewhere, not least on the two other Angolan schemes.
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