Bumi Armada, a leading Malaysian offshore energy services company, has recently signed a production sharing contract (PSC) with the Energy and Mineral Resources Ministry of Indonesia. The contract is for the Akia PSC located in the Tarakan Basin of the North Kalimantan Province. This exciting development comes along with the unveiling of promising oil and gas discoveries in the same region – Aster and Tulip.
Covering an extensive area of 8,394 square kilometers, the Akia PSC holds tremendous potential for Bumi Armada. One notable feature of the Tulip oil and gas discovery is its significant water depth of 800 meters. Consequently, Bumi Armada has taken on the responsibility of providing and operating a floating production storage and offloading (FPSO) facility, as well as a floating liquefied natural gas (LNG) facility or gas pipeline for the development in the Tulip discovery.
With the signing of the PSC, Bumi Armada reinforces its commitment to expanding its foothold in the Indonesian energy sector. The company is eager to leverage its industry expertise and state-of-the-art technology to unlock the vast reserves of oil and gas in the Akia Basin.
This partnership between Bumi Armada and the Indonesian Energy and Mineral Resources Ministry showcases the cooperation and mutual benefits that can arise from international collaborations in the energy industry. The signing of the PSC highlights Indonesia’s commitment to attracting foreign investment and expertise to maximize its oil and gas resources. Additionally, Bumi Armada’s involvement signifies the company’s recognition of Indonesia as a prime location for exploration and production activities.
The discovery of the Aster and Tulip oil and gas fields further bolsters Indonesia’s position as a significant player in the global energy market. These findings provide valuable opportunities for economic growth and job creation in North Kalimantan Province.
As Bumi Armada prepares to embark on its new venture in the Akia Basin, the company anticipates addressing the technical and logistical challenges that come with operating in deepwater environments. This will require overcoming obstacles posed by the harsh conditions and complex engineering requirements associated with deep-sea drilling and extraction.
The development of the Akia PSC has immense potential to contribute to Indonesia’s energy security and position the country as a major oil and gas producer. Furthermore, investments in the region will stimulate economic development and enhance the livelihoods of local communities.
In conclusion, Bumi Armada’s signing of the production sharing contract for the Akia Basin and the discovery of the Aster and Tulip oil and gas fields mark significant milestones for both the company and the Indonesian energy sector. With Bumi Armada’s technological capabilities and Indonesia’s abundant reserves, this collaboration holds great promise for the future of offshore energy production in the region.
