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SBM Offshore signs contracts totalling $750 million

Offshore

Offshore staff

(The Netherlands, Brazil, Asia-Pacific, West Africa) - SBM Offshore NV has recently penned the following deals:

Conversion of VLCC to FPSO

A Letter of Intent was signed by Chevron Frade LLC and Single Buoy Moorings Inc. for an engineering, procurement, construction and installation contract for the provision of an FPSO based on the conversion of the VLCC Lu San from SBM inventory.

In addition to the EPCI contract the parties intend to enter into an operations contract for a minimum period of three years.

The FPSO, moored by an internal turret accommodating 33 risers, will be fitted with topsides for the production of 100,000 bbl of oil, treatment, and compression of 106 MMcf/d of gas and treatment and injection of 150,000 b/d of water.

Installation in 1,080 m of water depth at the Frade field offshore Brazil is scheduled for 2Q 2008.

Tanker loading terminals for Petrobras, Pra, Brazil

An order was received from Petrobras for the turnkey supply of two catenary anchor leg mooring terminals for installation at PRA in the Campos basin.