Malaysia-based international offshore oilfield services company, Bumi Armada and Fugro announce that they have signed a joint venture agreement to target the Well Services industry. The new venture, in which Bumi Armada will have a 51% interest and Fugro a 49% interest, will feature a multidisciplined team made up of members of both companies with skills in marine operations, well intervention and drilling operations. The new company will leverage the strengths of each party to develop new lines of business in the fast expanding well services segment, and will widen each companies offering to their respective client bases.

Bumi Armada’s Chief Executive Officer/Executive Director, Mr Hassan Basma said, “This investment will represent our first foray into the lucrative and expanding subsea market where Bumi Armada intends to make its presence felt. These additional services will contribute to our footprint on a global scale with focus on our core markets. The top hole drilling and well intervention services complement our existing FPSO, T&I and OSV businesses, enabling us to offer our clients a full range of services and vital subsurface expertise required for brown fields and Risk Sharing
Contracts.”

About Bumi Armada
Bumi Armada Berhad is a Malaysia-based international offshore oilfield services provider with a presence in over 18 countries spread across five continents, underpinned by its access to over 2,000 people from 25 nationalities.
Bumi Armada provides these offshore services via five strategic business units - Floating Production, Storage and Offloading (“FPSO”), Offshore Support Vessels (“OSV”), Transport and Installation (“T&I”), Oilfield Services (“OFS”) and Gas Development and Technology (“GDT”).
These are complemented by three support units which are Asset Management & Operations (“AMO”), Engineering and Technology (“E&T”) and Major Projects (“MP”).
Bumi Armada is the largest OSV owner operator in Malaysia and third in South East Asia and the fifth largest FPSO operator in the world.

About Fugro
Fugro provides the people, equipment, expertise and technology that support the exploration, development, production and transportation of the world’s natural resources. Fugro also provides its clients with the technical data and information required to design, construct and maintain structures and infrastructure in a safe, reliable and efficient manner.