Brazil venture guarantees SBM offshore construction capacity

Offshore staff

MONACO – SBM Offshore has signed a shareholders' agreement with Synergy Group’s Naval Ventures concerning new operations in Brazil.

The duo have agreed to develop and operate a yard and a quayside at Niterói for fabrication and pre-commissioning of topside modules and other offshore oil and gas systems and equipment, and also for FPSO integration and commissioning.

They also plan to jointly upgrade, own and operate a floating crane to provide heavy lift services in Brazil. Both projects could be handled via one or more specially created entities.

The yard and quayside are next to the Rio-Niterói bridge, close to a large oil and gas resource base and numerous service providers. The floating crane will be upgraded to meet the requirements (up to 500 tons) for lifting modules onto FPSO decks.

SBM Offshore claims the heavy lifting capabilities will be unique in Brazil.

SBM Offshore will be responsible for overall project and site management, while Naval Ventures will make available the key assets and contribute shipbuilding and offshore construction experience.

09/30/2011



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