SBM OFFSHORE BOOKS NEW LEASE AND TURNKEY SUPPLY ORDERS
SBM Offshore N.V. is pleased to announce that the Company has
recently received a number of Orders and Letters of Intent in both
the lease and the turnkey supply segments of its activities.
A Letter of Agreement (LOA) has been received from EnCana
Corporation, a leading producer of natural gas in North America. The
LOA is for the provision, leasing and the operation of a production
facility for EnCana's Deep Panuke natural gas project offshore Nova
Scotia. The field is located 175 kilometres off the coast in 44
metres of water and harsh environment. Under the LOA, SBM will start
detailed engineering and procurement activities to target first gas
from Deep Panuke in late 2010.
In addition to the leasing and the operation of the production
facility, SBM will also provide field-wide logistics and operations
under the contract. The term of the contract will be for a minimum
period of eight years with annual extension provisions to a maximum
of twelve additional years.
The Deep Panuke Production Field Centre (PFC) will produce
market-ready gas exported through a subsea pipeline to customers in
Canada and the north-eastern United States. It will be the third
application of the SBM Offshore MOPU/MOPUstor technology and proves
again the cost effectiveness of this concept in a broad field of
applications, this time in the extreme weather environment of the
2. Turnkey Supply
A contract with COOEC (Chinese Offshore Oil Engineering Company) for
the design, project management and supply of components for a 4,000
tons offshore crane. Delivery of the crane is scheduled for the first
quarter of 2010 and will be installed on COOEC's DPV 7500
Several contracts for design and supply of specialised components for
jack up systems for drilling rigs and other offshore structures.
3. Portfolio Value
The above orders represent a total Portfolio Value close to 950
million US Dollars.
Contact person: Mr. Sebastiaan de Ronde Bresser
Telephone: (+377) 92 05 85 15
Mobile: (+33) 672 214 360
Fax: (+377) 92 05 89 40
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