Posted by rohank71 > 2023-09-13 08:40 | Report Abuse

Next resistance at 100 and 110 for Brent. Too 💪

Posted by RISK8888 > 2023-09-13 09:43 | Report Abuse

slowly buy until it reach 0.60

Posted by RISK8888 > 2023-09-13 10:56 | Report Abuse

when everyone is red, u turn green, wow!

Posted by pang72 > 2023-09-13 12:16 | Report Abuse

Wow!!?

Posted by pang72 > 2023-09-13 12:23 | Report Abuse

When all nonsense stop, it will turn green..

Posted by nikicheong > 2023-09-13 12:26 | Report Abuse

KUALA LUMPUR (Sept 13): Bumi Armada Bhd has signed a non-binding agreement with PT Pertamina International Shipping and PT Davenergy Mulia Perkasa (DMP), an Indonesian natural gas trading company, for the development and commercialisation of liquefied natural gas (LNG) from the Madura gas field.

In a statement on Wednesday, Bumi Armada said the agreement would outline the key principles to develop and commercialise LNG from the Madura gas field and its surrounding fields.

Pertamina International Shipping is the shipping and marine logistics sub holding of Indonesia’s state-owned energy company Pertamina.


It said preliminary discussions have been initiated with several potential off-taker clients and the first shipment of LNG is anticipated to take place three years after making the final investment decision.

Bumi Armada chief executive officer Gary Christenson said: “We are excited to collaborate with Pertamina International Shipping and DMP in this opportunity to bring sustainable and scalable solutions to reduce carbon emissions in Indonesia, which is also in line with Bumi Armada’s recently launched decarbonisation agenda to achieve net zero by 2050. This collaboration is a testament to our strong commitment towards providing the best decarbonisation solutions globally”.

Bumi Armada and Pertamina International Shipping are expected to collaborate, utilising their respective expertise and experience, in the development of a floating natural gas liquefaction and storage facility.

The collaboration aims to design, engineer, construct, install, commission, hook up and operate the facility, along with an LNG carrier. The parties also intend to transport LNG to consumers located in areas that lack access to clean energy sources.

Bumi Armada shares were 1.9% or one sen higher at 53 sen at time of writing on Wednesday, translating to a market capitalisation of over RM3.1 billion.

Posted by nikicheong > 2023-09-13 12:27 | Report Abuse

I wonder if TheEdge jumped the gun, there is not yet any announcement to Bursa on this, no press release on the Bumi Armada website too.

Posted by nikicheong > 2023-09-13 12:30 | Report Abuse

Not sure if this means Bumi Armada is going to develop and operate a FLNG + LNG carrier. Not clear on the structure of the JV as well. Unsure of the potential financial impact.

What is good about this is that the Armada Sterling III FPSO, whose firm charter period ends in 2027, will continue to see charter extensions for a long time to come.

Posted by nikicheong > 2023-09-13 12:34 | Report Abuse

If it's a FLNG with Bumi Armada being the leading partner, that's a big win. Let's wait for more details.

Posted by nikicheong > 2023-09-13 12:40 | Report Abuse

Officially announced to Bursa Malaysia:

13 September, 2023 – Bumi Armada Berhad (“Bumi Armada”), today announced the signing of a nonbinding agreement with PT Pertamina International Shipping (“Pertamina International Shipping”), a
shipping and marine logistics subholding of Pertamina, Indonesia’s state-owned energy company, and
PT Davenergy Mulia Perkasa (“DMP”), an Indonesian natural gas trading company to record key
principles to develop and commercialise liquefied natural gas (“LNG”) from the Madura Gas Field and
its surrounding fields.

By leveraging the expertise and experience of its potential consortium members, it is anticipated that
Bumi Armada and Pertamina International Shipping will design, engineer, construct, install,
commission, hook up and operate a floating natural gas liquefaction and storage facility, together with
an LNG carrier to transport LNG to consumers who are not proximate to clean energy sources.

DMP is dedicated to advancing Indonesia's LNG market while actively contributing to the nation's
growth. This commitment is reflected through the delivery of reliable and sustainable energy solutions
that support the nation's net-zero aspiration.

Preliminary discussions have been initiated with several potential off-taker clients and the first
shipment of LNG is anticipated to take place three years after making final investment decision.
Gary Christenson, Bumi Armada’s Chief Executive Officer, said: “We are excited to collaborate with
Pertamina International Shipping and DMP in this opportunity to bring sustainable and scalable
solutions to reduce carbon emissions in Indonesia, which is also in line with Bumi Armada’s recently
launched decarbonization agenda to achieve net zero by 2050. This collaboration is a testament to
our strong commitment towards providing the best decarbonization solutions globally.”

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=140265&name=EA_GA_ATTACHMENTS

Posted by nikicheong > 2023-09-13 12:43 | Report Abuse

A lot of signings recently but we need a concrete contract award to be sure of anything. Recall, the Mumbai Port FSRU was disclosed on May 2021 but until now nothing.

So we have 3 green energy plays in the pipeline with nothing certain yet:

1) Mumbai Port FSRU (50:50 with Shapoorji) - Announced May 2021
2) Transport of Liquified CO2 and Floating Carbon Storage & Injection Unit (50:50 with Navigator Gas) - Announced June 2023
3) FLNG + LNG Carrier (unknown JV structure with Pertamina Shipping) - Announced September 2023

Posted by nikicheong > 2023-09-13 12:46 | Report Abuse

However, of all these announcements, this seems to be the most definitive and has the clearest pathway to materialising as it is a "Heads of Agreement".

Also, it's been confirmed, this is a FLNG. Big win for Bumi Armada if and when the contract is finalised and officially awarded!!!

Posted by nikicheong > 2023-09-13 12:46 | Report Abuse

A hidden easter egg in the press release (final sentence):

"Bumi Armada is currently engineering a carbon capture injection system for a gas field in Indonesia."

Posted by Felix888 > 2023-09-13 12:47 | Report Abuse

Thanks for your great sharing Niki👍👍👍

Posted by hng33 > 2023-09-13 12:51 | Report Abuse

:D)

Posted by Ledangking > 2023-09-13 12:52 | Report Abuse

Thanks Niki

Posted by Robert Waters > 2023-09-13 13:33 | Report Abuse

FLNG is a complex and technologically sophisticated structure. They are usually designed and built new. Upgrading an LNG tanker is only suitable for smaller unit.
Normal size FLNG built on cheap, like the Coral FLNG for Mozambique is 3.5 bln dollar (US). It is successful with 26 offloadings achieved and pave the way for this methodology. Indonesia was contemplating FLNG from Japan (Abadi) in the past, but gave up on it after few years of planning.

Posted by RISK8888 > 2023-09-13 14:10 | Report Abuse

wow, into renewable energy, good job!

Posted by vespa > 2023-09-13 14:31 | Report Abuse

of late a few irons in the fire

Posted by pang72 > 2023-09-13 15:26 | Report Abuse

54c wow!

Posted by KopiOKaw > 2023-09-13 15:30 | Report Abuse

60c coming

Posted by pang72 > 2023-09-13 15:32 | Report Abuse

Ooooo... Yeap

Posted by TimCoke > 2023-09-13 15:43 | Report Abuse

0.54 not yet too late, please enter now, before its too late

Posted by TimCoke > 2023-09-13 15:44 | Report Abuse

0.69 easily

Posted by leeabraham > 2023-09-13 15:55 | Report Abuse

beware of trappers or syndicates newly comers, they were in other forums migrated here only when stock is hot, later u buy, stock drop.

Posted by Felix888 > 2023-09-13 15:56 | Report Abuse

Armada minimum worth 1.50

Posted by Robert Waters > 2023-09-13 16:13 | Report Abuse

Should be much higher, but syndicate is collecting and keeping the lid on price, ready to dump extra shares.

Posted by RayLee > 2023-09-13 16:23 | Report Abuse

Don't worry, it will breakout once the block is cleared

Posted by nikicheong > 2023-09-13 16:54 | Report Abuse

Some further good news for the Armada TGT FPSO.

"TGT Revised Field Development Plan (RFDP) approved by MOIT, drilling rig tender is in progress for 2024 drilling campaign".

https://www.pharos.energy/investors/press-releases/interim-results-for-the-half-year-to-30-june-2023/

--------

The contract is due to expire in Dec 2024 but quite clearly it will be extended, perhaps up to 2031.

Posted by leeabraham > 2023-09-13 17:15 | Report Abuse

Tomorrow there will be many people here talking nonsense. New names....(craps asking to buy when they selling, and vice versa
those working for syndicates or pr firm, then u koyak)

Posted by pang72 > 2023-09-13 17:50 | Report Abuse

Nonsense People all gone liao...
Here quiet place

Posted by lloydlim > 2023-09-13 19:02 | Report Abuse

Ready to sky rocket soon!

Posted by randy793 > 2023-09-13 20:06 | Report Abuse

Ya, plenty of no brainers who pluck figures and facts from the soil without any justifications.

Posted by Felix888 > 2023-09-13 20:08 | Report Abuse

So Pang72, you reentered Armada ? At what price?

Posted by chonghai > 2023-09-13 22:02 | Report Abuse

Armada switching attention to Indonesia ? Recent two JV both are Indonesia related.

Posted by Mabel > 2023-09-14 08:53 | Report Abuse

ARMADA – BUY, SL: MYR0.490, R1: MYR0.585, R2: MYR0.655

Source: Mabel's Tiger Bank

Meow

Posted by Mabel > 2023-09-14 08:55 | Report Abuse

The recent consolidation has ended following a new higher low structure along
the multiple EMAs lines – indicating firmer support is in place. Given the
rising trading volume along with an uptick in the RSI, we opine the overall momentum has gained traction and is likely to kick-start a new upcycle ahead.

Backed by equally bullish reading in the MACD, we expect the new uptrend to
accelerate further in the near term.

Meow

Posted by teknikal > 2023-09-14 10:47 | Report Abuse

Short term uptrend because above MA20 and MA50, but long term still downtrend as it is below MA200 price of RM0.555

Posted by Fklim888 > 2023-09-14 11:06 | Report Abuse

let see how today can close 0.55 or more higher ....

Posted by TimCoke > 2023-09-14 11:16 | Report Abuse

a stock that worth 1.8, now selling with 70% off, why people still not buying... lolx

Posted by Fklim888 > 2023-09-14 11:36 | Report Abuse

may be fearful and impossible to reach such 1.8 lol

Posted by Robert Waters > 2023-09-14 11:43 | Report Abuse

This is possibly much more profitable project than total Cameia.
FLNG is valued at least 2 x of a similar FPSO.
Green part is a bonus and an additional feather to the cap.
Wish I could buy more.

Posted by Robert Waters > 2023-09-14 11:50 | Report Abuse

Madura BD field, which was discovered in 1988 is located approximately 65 km East of Surabaya and 16 km South of Madura Island, contains reserves of 422 BCF (billion cubic feet) of natural gas and 18.7 MMBBL (million barrels) of condensate. The development project of Madura BD field is able to produce approximately 100 MMSCFD (million standard cubic feet per day) of gas and 6,000 BCPD (barrels condensate per day). The produced gas is transferred to the domestic contracted customers and the condensate is shipped by shuttle tankers to domestic users and regional users in South East Asia.

The project includes installation of a well-head platform (WHP) at a water depth of 55 meter; construction of a floating production, storage, and offloading (FPSO) vessel; construction of a gas metering station (GMS) onshore; installation of two flexible risers between the WHP and FPSO; and construction of a 52 km long pipeline to export gas to the GMS. Started in June 2015, the construction project of the FPSO, named Karapan Armada Sterling III (KAS III) was held in the shipyard of Keppel Offshore & Marine in Singapore. KAS III FPSO arrived at the location of BD field on 13 January 2017.

Gas and condensate produced from the BD field is transferred to and processed in FPSO KAS III, which is the world’s largest H2S processing offshore floating facility. It is equipped with topside facilities able to process 110 MMSCFD sales gas and 7500 BOPD condensate and recover 20 T of sulfur per day. Its operation is controlled from a control room. Maintenance activities are regularly carried out. It is provided with a health clinic and other supporting safety equipment. For personnel mobilization from FPSO to BD WHP, a lifting basket is used.

Posted by shiji93 > 2023-09-14 12:23 | Report Abuse

roadblock at 0.545 and the volume is pretty low despite the good news. Are those big sharks secretly collecting?

Posted by pang72 > 2023-09-14 15:33 | Report Abuse

Wow... 55c liao...

Posted by hng33 > 2023-09-14 15:37 | Report Abuse

:D)

Posted by TimCoke > 2023-09-14 15:37 | Report Abuse

still worth to buy

Posted by RayLee > 2023-09-14 15:43 | Report Abuse

Blocks are cleared and time for Armada to hit 60 cents and above

Posted by nikicheong > 2023-09-14 16:03 | Report Abuse

A joint venture of India’s Shapoorji Pallonji Energy (SP Energy) and Malaysia’s Bumi Armada has achieved financial closure on a $948 million loan facility for the Armada Sterling V floating production, storage and offloading vessel deployed at Oil & Natural Gas Corporation’s delayed KG-DWN-98/2 asset.

The FPSO is set to begin production within a month or two at ONGC’s $5 billion Cluster 2 development offshore India’s eastern coast, where months-long delay to first oil from the FPSO has led to financial headaches for the JV in the absence of steady revenues from the ONGC project.

For Bumi Armada, the delay affected its ability to satisfy one of the conditions in the disbursement of its FPSO financing facility.

However, Bumi Armada confirmed this week in an announcement on the Bursa Malaysia exchange that its subsidiary “has successfully achieved financial close under its long-term project financing facility of $948 million” for the east coast Indian FPSO.

“The disbursement proceeds from the project facility have been utilised by A98/2 (the company subsidiary) to fully repay its $930 million bridge loan facility,” the company stated.

Awaiting hydrocarbons

Bumi added that the Armada Sterling V FPSO “is awaiting hydrocarbons from ONGC to conduct the necessary acceptance tests to achieve final acceptance”.

While Bumi has not specified a start-up date, Upstream understands that the first oil from the ONGC project will likely be achieved by October.

Bumi has a 30% interest in the joint venture with Shapoorji Pallonji Energy, which holds the majority stake of 70%.

The Armada Sterling V FPSO is expected to handle up to 60,000 barrels per day of oil at peak production.

The floater was a conversion from the tanker Ariake by Seatrium (Sembcorp Marine) and is understood to be the largest FPSO in Indian waters, with a storage capacity of 800,000 barrels of oil.

https://www.upstreamonline.com/finance/joint-venture-closes-on-948-million-loan-facility-for-indias-largest-fpso/2-1-1517846

Posted by Fklim888 > 2023-09-14 16:52 | Report Abuse

opsss....0.545 stubborn armada lol