SBM Offshore receives interim award for Fram FPSO from Shell under framework agreement
(Thomson Reuters ONE) -
SBM Offshore is pleased to announce that it has received a letter of interim
award (LOIA) from Shell for the supply, lease and operation of a FPSO for the
Fram field in the UK sector of the North Sea. The LOIA allows SBM Offshore to
commence engineering and procurement of long lead items to ensure timely
completion of the planned Fram FPSO project, which is subject to a Final
Investment Decision.
In March 2012, Shell and SBM Offshore signed an Enterprise Framework Agreement
(EFA) covering a term of five years, with an option to extend for another five
years, to supply small and medium sized FPSOs globally on a lease and operate
basis. The Fram FPSO, subject to a Final Investment Decision, will be the first
project to be developed under the terms of the EFA.
The hull of the FPSO will be based on a converted Aframax tanker and will
incorporate an internal turret permanent mooring system. The crude will be
offloaded to shuttle tankers and the gas exported via the existing Fulmar
pipeline.
Bruno Chabas CEO of SBM Offshore said: "We are delighted by the letter of
interim award for this FPSO lease and operate project in the North Sea for
Shell. This award reaffirms our strategy to focus on FPSOs as we develop SBM
Offshore's position as the world's leading FPSO provider. The agreement signed
earlier in the year is a commitment to work with Shell on a long term basis to
develop offshore floating solutions. We look forward to developing many more
FPSO projects with Shell around the world in the future".
For further information, please contact:
Sebastiaan de Ronde Bresser
Telephone: (+377) 92 05 85 15
Mobile: (+33) 643 919 312
E-mail: sebastiaan.derondebresser(at)sbmoffshore.com
Website: www.sbmoffshore.com
To see the complete version of this press release, please click on the link
below:
SBM Offshore press release:
http://hugin.info/130754/R/1619831/517387.pdf
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: SBM Offshore N.V. via Thomson Reuters ONE
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