Bumi Armada posted an uptick in profit and revenues for the third quarter, having resolved issues which took its Kraken FPSO offline during the summer.
Once the partners reach a final investment decision (FID), it would take around three years to reach first gas.
Major production issues at the North Sea Kraken FPSO have hit vessel owner Bumi Armada in the group's pocket.
Work to overhaul transformers on board the Kraken FPSO has restored production levels, according to an update from vessel operator Bumi Armada.
The Kraken FPSO is back to around 90% production following a hydraulic pump failure that caused work to stop earlier this year.
The Health and Safety Executive (HSE) has said it is looking into the recent hydraulic pump failure on the Kraken vessel that caused production to stop.
Bumi Armada confirmed that production at the Kraken FPSO has been shut in following a hydraulic pump failure.
At the end of the quarter, Bumi Armada’s order book was 11.1 billion ringgits ($2.39bn). It has options for another 9.3bn ($2.01bn).
A vessel owner has been ordered to up its game after a raft of issues related to the monitoring and managing of alarms were uncovered on a North Sea ship.
Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
Texo Group’s sister company Texo DSI has successfully pioneered a new unmanned inspection method on a major UK North Sea FPSO, delivering significant safety, time and cost saving benefits.
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Malaysia’s Bumi Armada has announced plans to sell certain “idle” floating production vessels after a major debt restructuring programme.
Malaysia’s Bumi Armada has sunk to a £426million pre-tax loss which it largely blamed on impairment charges for the Kraken FPSO in the North Sea.
Malaysia’s Bumi Armada fell to a second quarter loss due to charges relating to the Kraken FPSO.
The vessel on EnQuest’s Kraken field in the North Sea has made its first oil cargo delivery in what is thought to be fastest operation of its kind in the past decade.
Malaysia-based offshore energy facilities and services provider Bumi Armada has suspended its operations and maintenance contracts with Erin Energy at the Oyo oil field offshore Nigeria.
Keppel Offshore & Marine said it is on track to deliver a Floating Production Storage and Offloading (FPSO) veseel to Armada Kraken.