Bumi Armada Berhad (“Bumi Armada”), wishes to announce that its wholly owned subsidiary Armada Akia B.V (“AABV”) (as Operator with 51% participating interest) and its co-bidder, Pexco Tarakan NV (“Pexco”) (with 49% participating interest), have signed a Production Sharing Contract with the Ministry of Energy and Mineral Resources of Indonesia for the Akia PSC in the Tarakan Basin, North Kalimantan Province (“PSC”).