Offshore staff

SCHIEDAM, the Netherlands – The FPSO Aseng has started first production offshore Equatorial Guinea in block I with 1,000 m (3,280 ft) water depth, reports SBM Offshore N.V.

This marks the hand-over of the FPSO to Noble Energy EG Ltd. two months ahead of schedule. Noble has contracted the FPSO for 15 years with provisions for extensions to five more years.

The FPSO serves not only Aseng field, but also will be a liquids hub for Noble Energy's future developments in the area with processing capacity for 120,000 b/d of liquids including 80,000 b/d of oil and an injection capacity of up to 150,000 b/d of water, as well as handling 170 MMcf/d of gas. The unit can store 1.6 MMbbl of oil including up to 500,000 bbl of condensate.

SBM Offshore has a joint venture with Compania Nacional de Petroleo de Guinea Ecuatorial (GEPetrol), the state oil company of Equatorial Guinea, for the ownership and operation of the Aseng unit. Under this agreement, SBM Offshore owns a 60% share with GEPetrol holding the remaining 40%.

11/15/2011