Petronas buys into Cameia-Golfinho, means MISC is now favourite for the FPSO EPCC job?

Anybody knows what the engineering team is working on at Bumi Armada? Is it true that their focus has changed and no longer on FPSO?

Seems like there are many floater projects being thrown about but nothing concrete as of yet. Projects that have been talked about in the past 12 months in this region:

Malaysia:
- Salam-Patawali FPSO
- Kikeh FPSO
- Limbayong-Bestari FPSO

Brunei:
- Kelidang FPSO

Indonesia:
- Abadi FPSO
- Tuna FPSO
- Akia FPSO + FLNG
- Madura FLNG

Thailand:
- Ubon FPSO

Vietnam:
- Nam Du FPSO
- Block B FSO
- Lac De Vang FSO

Anybody knows anything more about any of these projects? Any Malaysian involvement in these projects?

This post has been edited by contestchris: Feb 23 2024, 11:51 AM

Any idea if Bumi Armada are making any legitimate inroads into floating carbon capture & storage solutions? Seems like they have been trumpeting their designs but nothing official. I know they've done some feasibility studies for Shell in Malaysia, with another partner in Indonesia, and with some power plants in UK.

I spoke to a low level insider in PNB, he claims that the government of Malaysia via Petronas will "save" Sapura. According to him, zero chance of any injection from PNB.

1. Any truth to Petronas being interested to bail out Sapura?
2. How will it work as Petronas is the ultimate parent of MMHE, which is Sapura's only major local competitor on the fabrication side.

Anyone heard anything about the FEED for Block WL4-00 (Salam-Patawali)?

It appears FEED is either imminent or already underway.

FID might well happen sometime next year.

Tender for gas FPSO is either starting very soon, or already opened.

Is Malaysia the global headquarters for FPSOs design/engineering? SBM, Modec, Yinson, Bumi Armada, MISC, Aker....all global powerhouses with operations here.

Although Bumi Armada sadly seems to no longer be competitive in the floating space

It's a fairly small block and will materialise at the soonest, in 4 to 5 years time (if we are being optimistic).

Anybody heard about the MISC takeover/merger with Bumi Armada? The Edge reported on it in their latest weekly paper.

According to them, they're looking to buy Ananda's stake.

How would such a deal work out? Bumi Armada becomes a fully owned subsidiary, or a listed associate company? Or will MISC inject their FPSO assets into Bumi Armada?

What's in it for MISC? What is MISC's motivation for this deal?

The way I see it, Bumi Armada has been riding into the sunset for some time now. Unsure if they have any quality people left, after they failed to capitalize on the sizeable and lucrative Cameia FPSO. A lot of chatter about FSRU and floating carbon solutions but nothing to show for it either.

Not sure if you heard but MISC looking to buy Bumi Armada. If Bumi Armada has had nothing for a long time, and MISC is one of the larger FPSO players in terms of headcount in KL, what's the motivation for this?

Do you know Bumi have anything at the moment - relating to FSRU, FLNG, Floating CCS?

Spoke with someone and looks like Bumi Armada is going hard on floating ccs projects, they have participated in multiple feed and pre-feed. Team size at 30++ people. No award that I know of but they seem to be getting there. Clients include Shell Sarawak (Malaysia), Uniper (UK) and Enquest (UK).

Are they genuinely a market leader in this segment?

Looks like Bumi Armada is on a heavy recruitment drive. Any idea what's up there?

When did they not pay? Definitely not heard of such incident since 2021 onwards.

Did it happen in the previous downturn?

Anybody heard anything about this? How does this make sense for either party?

Discussions surrounding Malaysian shipping giant MISC’s potential acquisition of compatriot floating production, storage and offloading (FPSO) vessel contractor Bumi Armada have resurfaced, with Upstream's sources hinting that an official announcement may be imminent, possibly within the next one to two weeks.

https://www.upstreamonline.com/rigs-and-ves...me-/2-1-1734699

What's the industry veteran take on the MISC-Bumi Armada merger? What's the rationale? Who does it benefit more?

Is this relating to the FPSO or something else?