Further delays for East Panuke platform

SBM Offshore (AMS:SBMO) says commissioning of the long-delayed platform for the Deep Panuke field offshore eastern Canada is making slow progress.

Offshore staff

MONACO – SBM Offshore (AMS:SBMO) says commissioning of the long-delayed platform for the Deep Panuke field offshore eastern Canada is making slow progress.

This is due to recent test findings related to process equipment. Root causes date back to the time in the UAE yard and the subsequent transit.

The platform now is expected to be on hire during the first half of 2013.

Offshore Brazil, SBM has won a contract from Shell to engineer, procure, construct, install, and operate a rigless intervention system module on theFPSOEspirito Santo, serving the BC-10 field.

The equipment should be operational for a first intervention during 2Q 2014.

11/16/2012

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