KUALA LUMPUR (Oct 31): Bumi Armada Bhd's floating production, storage and offloading (FPSO) vessel Armada Kraken has set sail from Singapore today, within its rescheduled departure date. "The FPSO is on schedule to sail away to the Kraken field in the North Sea this quarter as planned," the company said in a press statement today. Armada Kraken was initially scheduled to sail from the Keppel Conversion Yard for commissioning work in deep water anchorage on Oct 16. According to news reports, Bumi Armada later said the vessel would sail within the month without specifying a date. Bumi Armada could face losing the US$1.4 billion (RM5.87 billion) contract for the FSPO if EnQuest's restructuring plan does not go through.

Source: The Edge Markets October 31, 2016 10:13 UTC