Bumi Armada Berhad is a Malaysian offshore energy facilities and services provider listed on Bursa Malaysia, with its head office at Menara Perak on Jalan Perak in Kuala Lumpur. Incorporated as a public limited company in December 1995, the group moved from managing small tonnage vessels into the design, construction and operation of floating production, storage and offloading units, which now generate the bulk of its revenue.
Fleet and operating model
The group reports three wholly owned FPSOs - Armada TGT1, Armada Kraken and Armada Olombendo - and four jointly owned FPSOs: Armada Sterling, Armada Sterling II, Karapan Armada Sterling III and Armada Sterling V. It also operates the LNG floating storage unit Armada LNG Mediterrana and two construction vessels, the derrick lay barge Armada Installer and Armada Constructor, which carry out subsea and pipelay work alongside a fleet of offshore support vessels. The company describes the FPSO division as accounting for more than 80 percent of group revenue in recent years, and its project record covers the design, project management, operations and delivery of floating production and LNG facilities for clients in Asia, Europe and Africa.
Financial performance and order book
- Second quarter 2026 revenue: RM335.2 million, operating profit RM98.4 million, net profit RM71.0 million
- First half 2026 revenue: RM641.7 million, operating profit RM165.7 million, net profit RM111.1 million, against RM262.8 million a year earlier
- Net cash flow from operating activities: RM149.8 million in the second quarter and RM341.3 million for the half year
- Cash balance of RM1.13 billion at 30 June 2026
- Firm order book at the end of the second quarter of 2026: RM7.1 billion, with optional extensions of up to RM8.7 billion
The second quarter result improved on the first quarter mainly because of a higher contribution from the Armada Kraken FPSO after compensation payable to the charterer was recognised on confirmation of a charter extension to March 2028, helped by a foreign exchange gain. Announcing the results on 27 August 2026, chief financial officer Luke Targett pointed to lower financing costs from the group's deleveraging, while chief operating officer Alexander Brigden reported a lost time injury on Armada Kraken involving a third-party contractor.
New ventures: upstream and carbon capture
In 2023 the company was awarded the Akia production sharing contract in North Kalimantan, Indonesia, covering 8,394 square kilometres and containing the Aster and Tulip discoveries, which it estimates hold 860 billion cubic feet of gas and 60 million barrels of oil equivalent; new 3D seismic data has been acquired to assess a fast-track development.
Bluestreak CO2, a joint venture between Bumi Armada and Navigator Gas, is developing an end-to-end carbon capture and storage offering for United Kingdom emitters without pipeline access, based on liquid CO2 shuttle tankers delivering to floating storage and injection units. In July 2024 Bluestreak CO2 signed a memorandum of understanding with Uniper to study export of CO2 from Uniper's proposed carbon capture project on the Isle of Grain. The group states an aspiration of net zero by 2050 or earlier.
Safety, quality and people
Bumi Armada publishes HSSE management, quality management, climate change, stop work and drug and alcohol policies, and states that it has recorded no fatalities over the past five years while managing risks to as low as reasonably practicable at its operating sites. Its HSSEQ framework sets out life-saving rules and a safety vision built around eliminating injury, property damage and environmental harm. The group reports more than 641 employees of 21 nationalities and received two Employee Experience Awards in 2025, gold for onboarding and silver for its soft skills training programme.
Offices and contact
Besides the Kuala Lumpur headquarters the group lists offices in Singapore, Aberdeen in Scotland, Luanda in Angola, Astrakhan in Russia and Jakarta in Indonesia. The published general enquiry address is [email protected], supplier registration goes through [email protected], and the investor relations team is reachable at [email protected]. The head office switchboard is +603 2302 9000.