SBM receives contract extension for Yetagun storage vessel

Offshore staff

MONACOSBM Offshore has received notification of a three-year extension of its contract to operate the FSO Yetagun offshore Myanmar.

The vessel, which has been in service since 2000, stores production from the Petronas-operated Yetagun gas/condensate field in the Gulf of Martaban.

Additionally, SBM has secured a $30-million brownfield life extension award: the Yetagun 18-month life extension project is due to be completed in July 2016. The vessel will remain in normal operation while the work is being completed.

SBM has also issued an update on its FPSOs either operating or under construction for projects offshore Brazil.

Decommissioning activities for the FPSO Marlim Sul, previously expected to be completed during 2Q 2015, have ceased as the client reviews continued production alternatives for the Marlim Sul field.

The vessel is on a standby day rate through the end of 2015 while the company awaits client confirmation to complete decommissioning activities.

Cidade de Maricá, one of two finance-leased vessels, berthed safely at the Brasa yard near Rio de Janeiro early last month, where topsides integration work continues. The completed vessel is expected to be delivered in early 2016.

Refurbishment and conversion work progresses on Cidade de Saquarema at a Chinese yard and is nearing completion. Sail away for Brazil, where again integration of the topsides will take place, should follow later this year.

Both double-hull sister vessels will be moored in around 2,300 m (7,546 ft) of water. Each will have storage capacity of 1.6 MMbbl, topsides facilities weighing around 22,000 tons, production capacity of 150,000 b/d of well fluids, associated gas treatment capacity of 6 MMcm/d, and water injection capacity of 200,000 b/d.

SBM adds that the three large turrets it has commissioned for the Prelude FLNG, Quad 204, and Ichthys vessels are progressing as scheduled.

Integration of the Quad 204 turret with the FPSO has been completed in South Korea and the client has accepted delivery, while fabrication work on the Prelude turret has been completed in Dubai with final integration under way in Korea.

The final elements of the Ichthys turret have been delivered for integration in South Korea with delivery anticipated in early 2016.


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