Shapoorji Pallonji-Bumi Armada FPSO deal: A lot hangs in balance – 10 Jan 2022

The Shapoorji Pallonji-Bumi Armada FPSO deal for the KG-DWN-98/2 is one of the largest ever by ONGC.

The FPSO day rate is fixed for 9 years at USD 609,200. And this is net of tax

The contractors have been able to do financial closure with a total debt of $ 930 million in April 2021

There are time overruns already

Blaming the contractors would be an easy way out, ONGC will also need to walk that extra mile