INTRODUCTION

Bumi Armada Berhad (Bumi Armada) is pleased to announce that its indirect wholly-owned subsidiary, Bumi Armada Caspian Limited Liability Company has been awarded a contract by OAO Lukoil (Lukoil) through its subsidiary, OOO Lukoil-Nizhnevolzhskneft, for the engineering, procurement, installation and pre-commissioning of subsea in-field and inter-field pipelines for the Filanovsky field in the Russian sector of the Caspian Sea.

Lukoil is a major international vertically-integrated oil and gas company and one of the biggest Russian oil business groups.

DETAILS OF THE CONTRACT

The completion period of the Contract is estimated at 32 months and to be substantially completed by end 2014.

FINANCIAL EFFECTS

The Contract valued at approximately USD200 million is expected to contribute positively to the revenue and earnings of Bumi Armada Group for the financial year ending 31 December 2012 and the financial periods thereafter for the duration of the Contract.

RISK ASSOCIATED WITH THE CONTRACT

The risks associated with the Contract are normal operational risks which can be mitigated through Bumi Armadas system of project management and internal business controls.

DIRECTORS AND MAJOR SHAREHOLDERS INTERESTS

None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, directly or indirectly in the said Contract.

This announcement is dated 16 April 2012.