Bumi Armada-Vietsovpetro Seal Deal for Te Giac Trang FPSO

Hoang Long Joint Operating Company, a partnership comprising Petrovietnam, Soco International, PTTEP and OPECO, signed a contract with Bumi Armada Berhad and its partner Vietsovpetro, for the provision of a FPSO (floating production storage and offloading vessel) for the Te Giac Trang Field Development Project in Vietnam.

The Te Giac Trang (TGT or White Rhinoceros) Field is located offshore Vietnam, in the northern part of Block 16-1, in the Cuu Long Basin
some 100km southeast of Vung Tau, 20km northwest of the Bach Ho Field and 35km west of the Rang Dong Field. The 7 year + 1 yearly extensions up to 15 years contract award for a FPSO with 45,000 BOPD production capacity and 1 million barrels of storage, also includes offshore installation, hookup and commissioning of the FPSO. The Malaysia based international company, Bumi Armada, has acquired a Suezmax tanker for the conversion.

Executive Director and Chief Executive Officer of Bumi Armada, Hassan Basma, said, "We thank HLJOC for this contract as it recognizes
our strength in delivering on our promises and building trust with our clients and stakeholders. It also underscores Bumi Armada's growing
reputation in the design, construction and operation of FPSOs and the added value and combined strengths of our partner, Vietsovpetro (VSP) who brings maximum local content to the project. VSP’s role includes offshore works for FPSO installation at site, undertaking operation and maintaining the FPSO afterward."

Nguyen Huu Tuyen, the General Director of Vietsovpetro said, "Following the success of Ca Ngu Vang Project (Gold Tuna or CNV Project) which had been tied-in to our Bach Ho existing facility and the celebration of a year getting the first oil, this contract which we have won in cooperation with Bumi Armada marks another milestone in the development of our capacity. It is a result of accumulation of over 28 years experience in building and growing in our core business of oil and gas exploration and production. We believe that the participation of Vietsovpetro in this project will contribute a lot of benefit to our client on its full-field development in Vietnam."