SBM Offshore reports orders, LoIs

SBM Offshore N.V. has received a number of orders and letters of intent for lease and turnkey supply activities.

Offshore staff

THE NETHERLANDS -- SBM Offshore N.V. has received a number of orders and letters of intent for lease and turnkey supply activities.

The company signed a contract with Sakhalin Energy Investment Co. to extend the lease contract of the FSOOkha, which is operating offshore Sakhalin Island, Russia. The contract is for an undetermined period of time and carries a six-month termination notice.

In the turnkey supply sector, SBM has received an LoI from Sonangol to supply CALM type offshore tanker terminals for the Palanca field offshore Angola. The company has also received LoIs from Zakum Development Co. for an export terminal at Zirku Island in Abu Dhabi and from Punj Lloyd for ONGC's Heera field offshore India.

SBM received a separate LoI with IHC Holland Merwede for the design and supply of a 5,000-metric-ton (5,511.6-ton) revolving offshore crane. The crane is to be installed on a vessel designed by SBM and to be built by IHC Holland for Seaway Heavy Lifting. Delivery of the crane is scheduled for 2Q 2010.

SBM secured an order from PetroProd for a basic design package for the construction of a GustoMSC CJ-70 harsh environment drilling jackup rig and received an LoI from Jurong Shipyard in Singapore for the supply of special components, including a jacking system, leg fixation system, and SBM's patented X-Y cantilever skidding system. SBM received a second LoI from Jurong Shipyard for the supply of a jacking system and a 550-metric-ton (606-ton) offshore revolving crane for a self-elevating platform, originally designed for Saudi Aramco, which subsequently awarded the construction contract to Jurong.

The company also secured a license agreement with Seajacks for the basic design of two GustoMSC NG2500 jackups and an order from Lamprell to supply the associated jacking systems.

Finally, SBM contracted with Global Maritime to provide jackup technology for two jackups for Master Marine and received an LoI from Labroy Shipbuilding & Engineering for the supply of the associated fixation systems.

6/1/2007

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