SBM OFFSHORE BOOKS A NEW LEASE ORDER FOR PETROBRAS CACHALOTE FIELD
SBM Offshore N.V. is pleased to announce the following:
1. Lease FPSO for Petrobras Cachalote Field
A letter of intent has been received from Petrobras for a lease and
operate contract of the company's existing FPSO Capixaba for a period
of 12 years at the Cachalote field offshore Brazil.
The FPSO Capixaba will be disconnected from its current location at
the Golfinho field offshore Brazil and after transfer to a shipyard,
the FPSO will be modified and upgraded for the new application and
will then transfer back to Brazil for offshore hook up, installation
and operation on the Cachalote field.
The execution schedule extends for a period of eight months, from
planned disconnection at the Golfinho field in June 2009, to first
oil on the Cachalote field in February 2010. The relocation and
upgrade works will require a significant additional capex investment
in the unit resulting in an amended lease contract with a new lease
rate which will be payable from date of start-up on the Cachalote
field.
The order represents an additional portfolio value of approximately 1
billion US Dollars for the total of the relocation fee and the
non-discounted total of the fixed lease rates payable over the 12
year lease period, after deduction of the remaining years' revenues
from February 2010 under the original FPSO Capixaba lease.
Contact person: Mr. Sebastiaan de Ronde Bresser
Telephone: (+377) 92 05 85 15
Mobile: (+33) 6 43 91 93 12
Fax: (+377) 92 05 89 40
E-mail: sebastiaan.derondebresser@sbmoffshore.com
Website: www.sbmoffshore.com
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