Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Thursday, November 14, 2024

Malaysian offshore energy facilities provider Bumi Armada said on Thursday that it was in talks with MISC to explore a merger with the maritime conglomerate's offshore unit.

In a Bursa Malaysia filing, Bumi Armada said they had entered into a non-binding memorandum of understanding with MISC to explore a merger with its offshore business.

"The parties intend to co-operate in good faith and exclusively with each other to achieve the objectives of the proposed merger," it said.

Bumi Armada said the agreement will be effective for nine months from the date its signing and does not have any legal binding effect except on exclusivity and confidentiality.

Separately, MISC, in a Bursa Malaysia filing confirmed that it had entered an agreement with Bumi Armada.

It said the proposed merger was at an early stage of evaluation and there was no certainty that the ongoing discussions between both parties would result in an entry into any binding agreement nor the completion of the proposed merger.


(Reuters - Reporting by Aaditya Govind Rao in Bengaluru and Ashley Tang in Kuala Lumpur; Editing by Sonia Cheema and Tomasz Janowski)

Categories: Asia Oil and Gas FPSOs Industry News Activity

Related Stories

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Indonesia's Medco Starts Production at Natuna Sea Fields

Valeura Energy Greenlights Wassana Oil Field Redevelopment off Thailand

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Current News

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com