First half revenue rose by more than a third to MYR970m ($294.5m) while net profit rose 22% to MYR221.6m on the back of increased business activities, ceo Hassan Basma said in a stock market announcement.
All segments reported stronger performances and Basma is optimistic of securing floating production, storage and offloading (FSPO) tenders for the Kraken (North Sea) and Madura (Indonesia) fields, he was quoted by local media as saying. The results are likely to be known next month he added.
He revealed that the Madura FSPO project is a $400m capital expenditure conversion job and the Kraken FSPO is worth $1bn, while adding that the company currently has 12 ongoing FSPO projects.
In a related announcement, Bumi Armada said it took delivery of the first of four platform supply vessels (PSVs) from Sentinel Offshore (L) Ltd in Xiamen on 31 July.
The $80m contract for the four PSVs is part of Bumi Amada's "Steel on Water 2" fleet expansion programme announced last year.
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