[New, 25th Sept '23] Bumi Armada Berhad - Signed Production Sharing Contract for Akia exploration block in the Tarakan Basin, North Kalimantan Province, Indonesia. The Akia PSC covers an area of 8,394 square kilometers and contains the Aster and Tulip oil and gas discoveries. The Tulip discovery has an estimated recoverable resource of 860 BCF of gas and 60 MMboe of oil and condensate. The water depth at the Tulip discovery is 800m and Bumi Armada would provide and operate an FPSO and an FLNG or gas pipeline for the development. This leverages Bumi Armada’s core expertise of providing and operating floating production systems. Tatparanandam Anantha Krishnan is a major shareholder of Bumi Armada and also holds a 100% indirect interest in Pexco. The Pexco Group is an independent upstream exploration and production group of companies. It currently operates two Production Sharing Contracts in Indonesia.