Under the $3bn, 12-year contract, Bumi will provide the floater to Eni for deployment at the Block 15/06, East Hub field located in deep water offshore Angola.

The contract has a further aggregate contract value of $900m if Eni Angola exercises all the extension options.

A very large crude carrier (VLCC) class tanker will be used by Bumi Armada for the FPSO conversion.

Slated to start operations in the fourth quarter of 2016, the FPSO will be equipped to store 1.8 million barrels of oil, with the capacity to handle 80,000 barrels per day of oil production.

Bumi Armada executive director and CEO Hassan Basma said: "The contract for the Block 15/06 field marks Bumi Armada’s largest FPSO contract to date, in both contract value as well as the VLCC vessel, which we will be using for the conversion, and clearly marks our entrance into the top tier of global FPSO players.

"Work on the FPSO for the 15/06 field has already commenced in April with the award of the LOI. We are confident of delivering the FPSO on time and on budget in Q4 2016."