SBM OFFSHORE N.V. RECEIVES LETTER OF INTENT FOR LEASE FPSO FOR BRAZIL'S TUPI NORDESTE FIELD FRO

SBM OFFSHORE N.V. RECEIVES LETTER OF INTENT FOR LEASE FPSO FOR BRAZIL'S TUPI NORDESTE FIELD FROM PETROBRAS

ID: 21721

(Thomson Reuters ONE) -


1.       FPSO for Brazil pre-salt area

SBM Offshore N.V. is pleased to announce that one of its Affiliates and Queiroz
Galvão Óleo e Gás S.A. (QGOG), have received a Letter Of Intent (LOI) from
PETROBRAS NETHERLANDS B.V. (PNBV) and PETROLEO BRASILEIRO S.A. - PETROBRAS as
Operator of the Consortium BM-S-11, established by companies PETROBRAS (65%), BG
E&P do Brasil LTDA (25%), and PETROGAL BRASIL LTDA (10%) for a twenty year
charter and operation of an FPSO for the Tupi Nordeste development in the
pre-salt area, offshore Brazil.

The Tupi Nordeste field is located in block BM-S-11 in the Santos basin at
approximately 265 kilometres offshore and 2,100 metres water depth. The FPSO
will include topside facilities to process 150,000 bpd of production fluids,
associated gas treatment for 5,000,000 Sm(3)/d with compression and carbon
dioxide removal and a water injection facility for 150,000 bpd.

It is the intention that the unit will be owned and operated by a consortium of
affiliated companies of SBM Offshore, QGOG, Nippon Yusen Kabushiki Kaisha (NYK),
and ITOCHU Corporation (ITOCHU).

The shareholding in the consortium is yet to be finalised depending on financing
alternatives. Nevertheless, SBM Offshore's share will not be less than 44.4% and
not exceed 50.5%.

The project schedule foresees delivery of the FPSO in 34 months from the LOI.

The non-discounted total of the revenues payable under this contract to the
consortium amounts to approximately US$ 3.75 billion.


Contact person: Mr. Sebastiaan de Ronde Bresser


Telephone: (+377) 92 05 85 15

Mobile: (+33) 643 919 312

Fax: (+377) 92 05 89 40

E-mail: sebastiaan.derondebresser(at)sbmoffshore.com





Website: www.sbmoffshore.com



To see the full version of the Press Release please click on the link below:


[HUG#1420341]





SBM Offshore Press Release: http://hugin.info/130754/R/1420341/369976.pdf




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Bereitgestellt von Benutzer: hugin
Datum: 01.06.2010 - 07:31 Uhr
Sprache: Deutsch
News-ID 21721
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"SBM OFFSHORE N.V. RECEIVES LETTER OF INTENT FOR LEASE FPSO FOR BRAZIL'S TUPI NORDESTE FIELD FROM PETROBRAS"
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