Bumi Armada, India's Shapoorji Pallonji ink JV

Bumi Armada is contesting the termination of its contract with Woodside Energy Julimar.

KUALA LUMPUR: Bumi Armada Bhd and India's Shapoorji Pallonji and Co. Pte Ltd (SPCL) are combining their resources to bid for contracts in the floating production, storage and off-loading (FPSO) vessel business.

Bumi Armada said on Friday the company and SPCL's unit,  Shapoorji Pallonji Oil and Gas Pte Ltd, would set up a joint venture to be known as  Shapoorji Pallonji Bumi Armada Godavari Pte Ltd in India.

It said the setting up of the JV involved the interests of a director of Bumi Armada, Shapoorji Pallonji Mistry, which would design, fabrication, installation, charter, deployment, and operations and maintenance of a FPSO facility. 

The JV would be the entity used by the parties to bid for the projects.