KUALA LUMPUR: Bumi Armada Bhd
said a shut-in at its Armada Kraken floating production storage and offloading (FPSO) vessel and future reduced level of production is likely to reduce bareboat charter contract revenue earned by the FPSO.
"Given the current uncertainties, the financial impact of this incident cannot be reliably estimated at this point, but is expected to be material for Bumi Armada," it said in a filing with Bursa Malaysia.
The group said the Armada Kraken FPSO was recently shut-in following the failure of critical hydraulic submersible pump transformers.
The group is currently assessing alternative technical solutions in a bid to to return the Armada Kraken FPSO to production.
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