Posted by Macgyver111 > 2022-11-04 09:18 | Report Abuse

I think Armada sterling v will start operation Dec end onward. Journey to port Mumbai plus authority approval and etc etc etc at lease take one to two month. Can expected some effect later on. Tiam tiam dulu...

Posted by nikicheong > 2022-11-04 10:41 | Report Abuse

This is amazing news. Bumi Armada has been updating that sailaway readiness will be achieved in Oct 2022.

If true, it should start moving the price up once the FPSO actually begins moving out to India, and then again the price will improve with first oil. So lets see how it goes.

Posted by nikicheong > 2022-11-04 13:29 | Report Abuse

Some more news: https://energy.economictimes.indiatimes.com/news/oil-and-gas/shapoorji-pallonji-builds-floating-rig-for-ongcs-kg-wells/95287960

"Shapoorji Pallonji spokesman while refusing to divulge costing details told PTI that the vessel will be reaching the domestic waters sometime before December-end."

Posted by success2628 > 2022-11-04 13:54 | Report Abuse

Shapoorji Pallonji builds floating rig for ONGC's KG wells

Named Armada Sterling V, the FPOS was built at the Sembcorp Shipyard in Singapore in association with Malaysia’s Bumi Armada group. The company has a 70:30 joint venture with the Malaysian group, Shapoorji Pallonji Oil & Gas said in a statement on Thursday.

https://energy.economictimes.indiatimes.com/news/oil-and-gas/shapoorji-pallonji-builds-floating-rig-for-ongcs-kg-wells/95287960

Posted by success2628 > 2022-11-04 13:56 | Report Abuse

Like that today Armada going to limit up already liao lah !

Congrats to all the Armada die-hard supporters !

Posted by Heungheungloveyou > 2022-11-04 16:27 | Report Abuse

limit up 1c, then U turn within same day... Lol...

Posted by Heungheungloveyou > 2022-11-04 16:29 | Report Abuse

it is not a stock for investment, don't waste your time and cost of opportunity here.

Posted by Macgyver111 > 2022-11-04 22:25 | Report Abuse

Brent might close usd 100 tonight. Huat huat huat!

Posted by Macgyver111 > 2022-11-05 07:51 | Report Abuse

Armada Sterling V, a sizeable floating production, storage and offloading vessel built at Singapore’s Sembcorp Marine yard is preparing to sail away within weeks, destined for Oil & Natural Gas Corporation’s (ONGC) KG-DWN-98/2 project off India's east coast.

Shapoorji Pallonji Oil & Gas (SP Oil & Gas), key FPSO contractor for the coveted ONGC deep-water project, confirmed the development on Thursday and said the project “has achieved a significant milestone of sailaway readiness” for the Armada Sterling V at Sembcorp Shipyard in Singapore.

The floater is jointly owned by a pairing of SP Oil & Gas and Malaysia’s Bumi Armada. The Indian player holds a 70% stake in the FPSO, while Bumi has the remaining 30%.

“This is Shapoorji Pallonji’s fourth FPSO and its third FPSO for Indian waters,” the company noted.

The Armada Sterling V will be deployed at the Cluster 2 region of ONGC’s KG-DWN-98/2 deep-water block, off the country’s east coast.

The FPSO is expected to sail away and arrive on location offshore India before the end of the year, SP Oil & Gas has said.

Article continues below the advert

KG-DWN-98/2 development

ONGC is spending more than $5 billion on developing the Cluster 2 region of the flagship deep-water asset, which is expected to produce up to 16.6 million cubic metres per day of gas and 78,000 barrels per day of oil.

While ONGC’s KG-DWN-98/2 project has been hit by delays and other concerns surrounding its offshore central processing facility, the Armada Sterling V is expected to start oil production from the deep-water asset within months, Upstream understands.


Reliance Industries ‘confident’ of commissioning new gas condensate field by end of year
Read more
SP Oil & Gas said that the “project has provided valuable deep-water experience to ONGC and will give it enormous confidence to pursue challenging ultra-deepwater developments in India's east coast".

Sizeable FPSO

Armada Sterling V involves 13 modules and central pipe racks, weighing over 20,000 tonnes, with a processing capacity of about 60,000 bpd of liquids and 3 MMcmd of gas.

“It will be the largest floater in Indian waters, measuring 321 metres in length and 60 metres in width, with a storage capacity of over 800,000 barrels,” said SP Oil & Gas.

The FPSO is designed for continuous operations in waters with maximum wave heights of over 27 metres, it added.

In addition to the new floater, the joint venture of SP Oil & Gas and Bumi Armada operate two FPSOs — Armada Sterling and Armada Sterling II — offshore India’s western coast.

Huge investments

ONGC is spending billions of dollars on developing the prolific KG-DWN-98/2 block.

In October 2018, McDermott, Baker Hughes and L&T were jointly awarded a $1.69 billion engineering, procurement, construction and installation contract for the subsea scope of the Cluster 2 project.

The integrated contract — the biggest-ever subsea award by ONGC — included 26 deep-water trees and the installation of subsea umbilicals, risers and flowlines in water depths of up to 1300 metres, Upstream understands.


India’s ONGC seeks offshore support vessels for FPSO operations
Read more
A grouping of India’s Afcons and Malaysia’s Sapura Energy is separately involved with an engineering, procurement and construction contract involving the project's offshore central processing facility, but the project had hit a rough patch owing to Sapura’s financial woes.

More clusters targeted

In addition to the Cluster 2 area, ONGC has been planning to launch the development of the KG-DWN-98/2 block’s Cluster 1 and Cluster 3 regions, but no timeframe has been declared for executing those developments.

At peak, the deep-water asset is expected to produce more than 35 MMcmd of gas and 78,000 bpd of crude, when all three clusters are brought on stream.

Block KG-DWN 98/2 lies offshore the Godavari River delta in the Bay of Bengal. It is located 35 kilometres off the Andhra Pradesh coast in water depths ranging from 300 to 3200 metres.

Posted by success2628 > 2022-11-05 09:15 | Report Abuse

hng33, at what price we should closed position & take profits ?
Any idea ?

Posted by Macgyver111 > 2022-11-05 09:52 | Report Abuse

https://www.marketwatch.com/story/heres-strong-new-evidence-that-a-u-s-stock-market-rally-is-coming-soon-11667526884

Posted by Macgyver111 > 2022-11-05 10:38 | Report Abuse

Brent closed almost near to usd 99 (98.7usd). Monday can expected another rally, hopefully can break 0.45c wall and all the way to 0.50c.

Posted by MoneyMakers > 2022-11-05 13:05 |

Post removed.Why?

Posted by Macgyver111 > 2022-11-05 23:22 | Report Abuse

China going to end zero covid policy soon.
https://www.scmp.com/business/china-business/article/3198450/zero-covid-china-reopening-bets-lit-stocks-amid-buying-frenzy-hong-kong-shanghai-preview-end-policy

Posted by hng33 > 2022-11-07 11:38 | Report Abuse

Top up all margin line capital to armanda at 42.5sen

Posted by nikicheong > 2022-11-07 13:16 | Report Abuse

Sailaway ceremony was held over the weekend at the yard in Singapore. The journey of Armada Sterling V to the KG DW 98/2 field should begin any day soon.

Posted by success2628 > 2022-11-07 14:13 | Report Abuse

hng33, normally you will say sold all @0.425 to take profits first and wait for witness then only re-enter..
Your Purchase at @0.38 and unloaded all at @0.425 sure will make a hugh handsome profits !

But Why u even not unloaded all but to top up margin and sailang all at @0.425

Can tell us why ?

Posted by nikicheong > 2022-11-07 15:15 | Report Abuse

All ready for sailaway!

https://ibb.co/WGjrVV7

Posted by hng33 > 2022-11-07 15:36 | Report Abuse

sold off all armanda at 42.5sen, locked all profit, offset slightly on today intraday transaction cost loss

Posted by success2628 > 2022-11-07 15:57 | Report Abuse

Follow hng33 to unloaded all Armada shares at @0.425, take profits first then when hng33 re-enter then only i will follow hng33 to buy back Armada shares at low low price…

Posted by success2628 > 2022-11-07 15:57 | Report Abuse

i follow hng33 to in and out for Armada shares already making few round of profits !

Thanks hng33 !

Posted by hng33 > 2022-11-07 16:03 | Report Abuse

We deem the results to be within our expectations (57%) but above consensus (61%) as we believe 3Q22 might post weaker earnings performance as Armada Kraken is slated for maintenance in Sep 2022.

Remark: Armanda major earning driver, Kraken, will on maintenance in Sept, will affect revenue income for Q3

Posted by success2628 > 2022-11-07 16:16 | Report Abuse

Yes, hng33’s analysis on Armada is always acculate, So guys, please take profits first and wait for re-enter at low low price ya !

Posted by yangkwang99 > 2022-11-08 04:44 | Report Abuse

Sorry not this time. Price will be up!!!

Posted by Macgyver111 > 2022-11-08 07:53 | Report Abuse

Agreed

yangkwang99

Sorry not this time. Price will be up!!!

Posted by yangkwang99 > 2022-11-08 09:58 | Report Abuse

Some positive signs operator will push price soon! Cheers!

Posted by MM78 > 2022-11-08 10:30 | Report Abuse

Stronger USD Vs RM is good for Armada, hence good for Q 3 result

Posted by MoneyMakers > 2022-11-08 11:46 | Report Abuse

Nice - sailing towards India 4 nxt fspo project

Keeps going higher & higher..just 1sen away from Sept high (44sen)

Posted by 1pingpong > 2022-11-08 15:17 | Report Abuse

top up more 0.430.. going higher and higher, tmrow flyyy

Posted by Robert Waters > 2022-11-08 17:36 | Report Abuse

Since it was already anounced, may be it is right time to sell the news ?
Been wrong before ...
_________________________________

High Commissioner Mr P. Kumaran participates in sail-away ceremony of Shapoorji Pallonji’s FPSO Armada Sterling V
November 7, 2022 Neel Achary Business 0

7th November 2022, India/Singapore: The High Commissioner of India in Singapore, His Excellency Mr P. Kumaran, participated in the sail-away ceremony of FPSO Armada Sterling V on November 6, 2022. The Floating Production Storage and Offloading vessel (FPSO) is ready to sail away and is expected to arrive at the project site on the east coast of India by the end of December 2022.
Over 150 people attended the sail-away ceremony, including representatives from the Indian High Commission in Singapore, ONGC’s PMC, Shapoorji Pallonji, Sembcorp, and Bumi Armada, as well as their guests.
This FPSO is the result of close collaboration between India’s engineering prowess and Singapore’s FPSO conversion capabilities. It features 13 modules and central piperacks, weighing over 20,000 tonnes, and is equipped with the world’s largest submerged turret production system.

H.E. Mr. P. Kumaran praised the size and specifications of the FPSO and congratulated the ONGC, Shapoorji Pallonji Oil and Gas, Bumi Armada and Sembcorp Marine teams. Commending this remarkable project, he said, “I am very happy to see the kind of collaboration that has been possible between India, Singapore, Indonesia and a number of other countries involved in this project in terms of supply chain linkage.” The High Commissioner appreciated the excellent safety record of the FPSO and its sail-away readiness, despite disruptions due to Covid – 19 and geopolitical challenges.
Mr. Ravi Shankar, CEO and Director of Shapoorji Pallonji Oil and Gas, emphasized the importance of the FPSO for India’s energy security and stated that this deep-water project has given ONGC and Shapoorji Pallonji confidence to pursue ultra deep-water projects in India and overseas.
The FPSO represents India’s commitment to sustainable energy development. It is Asia’s first FPSO with low NOX DLE burners, is equipped with radar-operated oil slick monitoring, and has advanced engineering features that limit its overall energy intensity.

Posted by Heungheungloveyou > 2022-11-09 11:18 | Report Abuse

sailang with your limited margin capital now, heading to 90c is not a dream

Posted by KimSua > 2022-11-10 10:51 | Report Abuse

Dollar index seems to have reach its peak at 114 and now hovering along 110 many weeks now. It it drops further expect oil price to go above 100. Oil barons are still bullish as supply continues to be (kept) tight.

Posted by MoneyMakers > 2022-11-10 11:22 | Report Abuse

Rocket delay this week - china lockdown again

“CNN - China's Guangzhou (manufacturing hub) has locked down a third district as authorities rush to stamp out widening Covid outbreak”

Posted by hng33 > 2022-11-10 16:46 | Report Abuse

bought back armanda at 42sen

Posted by hng33 > 2022-11-10 17:30 | Report Abuse

After careful calculate impact on kraken maintenance, upcoming Q3 should still able to record about EPS 3.6sen due to absent of one off impairment in Q2 and strengthen USD.

If armanda indeed record Eps 3.6sen, it imply profit growth both for Q to Q and Q o Q

Posted by 1pingpong > 2022-11-11 11:33 | Report Abuse

Oil is going uptrend for sure. But this Armada ah...Wat Are you doing?

Posted by 1pingpong > 2022-11-11 11:34 | Report Abuse

Never fail to disappoint!!!

Posted by Robert Waters > 2022-11-11 16:08 | Report Abuse

Friday is never a good day for Armada, as people want to reduce risk before weekend.
Also, final dismissal of the case against woodside happened yesterday.
All considered, not a bad performance in the circumstances.
0.43 is a good price for now.
Consider 23 million shares short that will have to be settled soon as margin kicks in.
It keeps us up too.
_______________________________________________________
KUALA LUMPUR (Nov 10): Bumi Armada Bhd has concluded its six-year legal dispute with former client Australia-based Woodside Energy Julimar Pty Ltd (WEJ), with the offshore production and support services provider failing to obtain any of the claims it sought.

The dispute relates to a terminated RM1.46 billion charter contract between Bumi Armada’s unit Armada Balnaves Pte Ltd (ABPL) and WEJ, which prompted ABPL to file a suit in 2016 at the Supreme Court of Western Australia to seek a declaration that WEJ’s termination of the contract was a repudiatory breach.

It also claimed US$283.51 million for damages in the suit. The damages that ABPL sought comprised payment that the unit claimed it would have been entitled to had the contract not been breached, and US$7.7 million for work done and materials supplied.

The matter was put to rest on Thursday (Nov 10) after the High Court of Australia dismissed ABPL’s bid to appeal a Court of Appeal of the Supreme Court’s (COA's) judgement, as well as ordered ABPL to pay WEJ’s legal costs.

“Today’s decision brings this matter to a conclusion,” Bumi Armada said in a filing on Thursday.

Previously, the Supreme Court decided in favour of WEJ in regard to ABPL’s suit, which led to ABPL filing an appeal at the COA against the decision. However, the COA decided in favour of WEJ in the application on June 24 this year, which then led to ABPL seeking special leave (permission) to appeal "part" of the appellate court's judgement. This application was the one dismissed on Thursday.

Shares in Bumi Armada finished down half a sen or 1.16% at 42.5 sen, giving the company a market capitalisation of RM2.49 billion.

Posted by MoneyMakers > 2022-11-12 12:24 | Report Abuse

Nice oil going strong - midweek abit oil scare (china/guangzhou lockdown) but strong rally after china announce loosen covid policy

Nxt week target blow past 44sen (Sept high) - if lucky can touch 46.5sen (Jun high)

Never doubt oil this yr-end (EU oil ban Dec 5)

Posted by ITreeinvestor > 2022-11-14 14:52 | Report Abuse

expected higher profit in coming quaters.............

Mr Targett responded to further queries from the shareholders as follows:-
(a) Foreign currency effect on the Company’s business - 85% of the Company’s revenue was denominated in USD. Generally, if the USD strengthens, BAB net profit would strengthen.

Posted by Robert Waters > 2022-11-14 18:01 | Report Abuse

More and more coverage about armada sterling v ...

.....
The Indian giant has made multiple awards for the Cluster-2 development of KG-DWN-98/2 including integrated subsea facilities, a floating production storage and offloading unit (FPSO), a central processing platform plus living quarters and a sizeable onshore terminal.

McDermott, along with Baker Hughes and India’s Larsen & Toubro, was awarded a $1.69 billion integrated subsea contract by ONGC in October 2018 for work on the KG-DWN-98/2 asset.

A separate contract for the project’s CPP plus living quarters facility was awarded to a joint venture of India’s Afcons with Malaysia’s Sapura Energy.

While most of the key facilities for the Cluster-2 project are said to be back on track after Covid-related delays, the CPP is understood to be several months behind schedule, due to Sapura’s financial woes.

Armada Sterling V, the FPSO for the KG-DWN-98/2 project built by Sembcorp Marine in Singapore, is preparing to sail away within weeks, Upstream reported on 4 November.

The floater is jointly owned by a pairing of Shapoorji Pallonji Oil & Gas (SP Oil & Gas) and Malaysia’s Bumi Armada. The Indian player holds a 70% stake in the FPSO, while Bumi has the remaining 30%.

Posted by yangkwang99 > 2022-11-17 10:43 | Report Abuse

CAUTION! MQ TRADING SIGNALS SELL!

Posted by soon9913 > 2022-11-17 13:56 | Report Abuse

see MISC profit !!!! this counter got potential to at least 0.5

Posted by chonghai > 2022-11-19 07:13 | Report Abuse

How much profit Armada derive from Kraken every quarter ?
How much profit would Armada be able to derive from Armada Sterling V every quarter once operational ?

Posted by Macgyver111 > 2022-11-21 07:31 | Report Abuse

Parliament hung, don't know what going to happen to bursa today..adoi

Posted by nikicheong > 2022-11-21 09:59 | Report Abuse

Armada Sterling V has left the port!!! She is sailing to the Kakinada field as we speak.

Posted by zonefinder > 2022-11-22 10:08 | Report Abuse

Should be announcing Q3 anytime now

Posted by nikicheong > 2022-11-22 11:03 | Report Abuse

Results usually announced Friday afternoon. So I expect it latest by this coming Friday.

Posted by hng33 > 2022-11-23 10:33 | Report Abuse

soon

Posted by nikicheong > 2022-11-24 13:16 | Report Abuse

Solid set of results. Will comment further once I've gone through it.