SCHIEDAM, Netherlands, July 12, 2016 (GLOBE NEWSWIRE) -- SBM Offshore is pleased to announce that FPSO Cidade de Saquarema is formally on hire as of July 8, 2016 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance.
The vessel is installed in the Lula field (BM-S-11 contract) in the pre-salt province offshore Brazil. The FPSO will operate under a 20-year charter with Tupi BV as well as an operations contract with the BM-S-11 consortium. The BM-S-11 block is under concession to a consortium comprised of PETROBRAS (65%), BG E&P Brasil Ltda - a Royal Dutch Shell subsidiary (25%) and Petrogal Brasil S.A. (10%).
The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation, Nippon Yusen Kabushiki Kaisha, and Queiroz Galvão Óleo e Gás S.A. in which SBM Offshore's shareholding is 56%.
SBM Offshore N.V. is a listed holding company that is headquartered in Schiedam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group ("the Company").
SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle. The Company is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field. The Company's main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels. These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.
Group companies employ approximately 7,000 people worldwide. Full time company employees totaling 4,900 are spread over five regional centres, eleven operational shore bases and the offshore fleet of vessels. A further 2,100 are working for the joint ventures with several construction yards. Please visit our website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication "SBM Offshore" is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.
The Management Board
Amsterdam, The Netherlands, July 12, 2016
|Half-Year 2016 Earnings - Press Release||August 10||2016|
|Trading Update 3Q 2016 - Press Release||November 9||2016|
|Full-Year 2016 Earnings - Press Release||February 8||2017|
|Annual General Meeting of Shareholders||April 13||2017|
|Trading Update 1Q 2017 - Press Release||May 10||2017|
For further information, please contact:
Nicolas D. Robert
Head of Investor Relations
|Telephone:||+31 (0) 20 2363 126|
|Mobile:||+31 (0) 6 5461 2410|
Head of Communications
|Telephone:||+31 (0) 20 2363 170|
|Mobile:||+31 (0) 6 25 68 71 67|
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.
FPSO CIDADE DE SAQUAREMA PRODUCING AND ON HIRE http://hugin.info/130754/R/2028088/753836.pdf
Source: SBM Offshore N.V.