ENI to lease Xikomba FPSO for Angola project

SBM Offshore has a Letter of Intent (LOI) from ENI to re-deploy the FPSO Xikomba to the block 15/06 development offshore Angola.

Offshore staff

MONACO -- SBM Offshore has a Letter of Intent (LOI) from ENI to re-deploy the FPSO Xikomba to the block 15/06 development offshore Angola.

The FPSO has been operating for ExxonMobil in Angola since 2003, but the current contract is drawing to a close.

SBM Offshore will perform a major upgrade to adapt the vessel to its new project-specific requirements. Part of the work will be performed in the PAENAL yard in Angola.

The LOI covers the early phase of the project, and allows SBM Offshore to start engineering and procurement. The full-scope, 12-year lease and operate contracts should be signed in the coming months.

04/15/2011

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