SBM Offshore and Yme Owners reach conclusion and financial settlement on Yme Project
(Thomson Reuters ONE) -
SBM Offshore and Talisman Energy Norge AS (Talisman), on behalf of itself and
its joint venture partners, have reached a decision to terminate the YME
MOPUstor project, including scrapping the existing above surface structure, and
ending all joint activity for an agreed cost.
Following an extended period of operational and execution delays, the decision
has been taken to remove the MOPU (Mobile Offshore Production Unit), which will
subsequently be scrapped. Ownership of the in situ subsea structure will be
transferred from SBM Offshore to the Yme license holders, as they assess
alternative development concepts for the field.
Subject to an upfront settlement payment of US$ 470 million made by SBM
Offshore, Talisman will complete the work necessary to ensure the safe re-
manning and will then remove the MOPU from the Yme field. SBM Offshore will
manage the transportation and ultimate scrapping of the facility.
All parties will terminate the existing agreements and arbitration procedures
with respect to the YME project.
"Delays to first production on the Yme project have been a great disappointment
to the Yme joint venture partners," said Paul Warwick, Executive Vice-President
Europe-Atlantic, Talisman Energy. "Recent analysis has concluded that a new
topsides solution is needed in order to develop the Yme field. The arrangement
with SBM Offshore allows the Yme joint venture partners to continue to evaluate
options for the Yme field."
Sietze Hepkema, member of the Management Board of SBM Offshore N.V. said: "Today
we have resolved the legacy difficulties of Yme at an agreed cost, bringing an
end to a period of significant uncertainty for the company. We are confident
that with an FPSO-focused strategy and our industry-leading technological
skills, SBM Offshore can take full advantage of the strong long-term
fundamentals in our markets."
About SBM Offshore
SBM Offshore N.V. provides floating production solutions to the offshore energy
industry, over the full product life-cycle. The Company is market leading in
leased floating production systems with multiple units currently in operation,
and has unrivalled operational experience in this field. The Company's main
activity is the design, supply, installation and operation of Floating
Production, Storage and Offloading (FPSO) vessels. These are either owned and
operated by the Company and leased to our clients or supplied on a turnkey sale
basis. Headquartered in Schiedam, the Company employs over 7,400 people
worldwide, who are spread over five execution centres, eleven operational shore
bases, several construction yards and the offshore fleet of vessels. Please
visit our website at www.sbmoffshore.com
About Talisman Energy Inc.
Talisman Energy Inc. is a global upstream oil and gas company, headquartered in
Canada.
Talisman has two core operating areas: the Americas (North America and Colombia)
and Asia-
Pacific. Talisman is committed to conducting business safely, in a socially and
environmentally
responsible manner, and is included in the Dow Jones Sustainability (North
America) Index.
Talisman is listed on the Toronto and New York stock exchanges under the symbol
TLM. Please
visit our website at (www.talisman-energy.com).
For media enquiries or further information, please contact:
Talisman Energy contacts:
In Norway:
Grethe Elise Foldnes
Manager, External and Corporate Affairs
Email: gefoldnes(at)talisman-energy.com
Phone: +47 52 00 18 85
Media and General Inquiries Shareholder and
Investor Inquiries
Phoebe Buckland Lyle McLeod, Vice-
President
External Communications Investor Relations
Talisman Energy Inc. Talisman Energy Inc.
Phone: 403-237-1536 Phone:
403-237-1020
E-mail: pbuckland(at)talisman-energy.com E-mail: lmcleod(at)talisman-
energy.com
SBM Offshore contacts:
Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer
Telephone: (+377) 92 05 85 15
Mobile: (+33) 643 919 312
E-mail: sebastiaan.derondebresser(at)sbmoffshore.com
Website: www.sbmoffshore.com
Media Relations
Anne Guerin-Moens
Group Communications Director
Telephone: (+377) 92 05 30 83
Mobile: (+377) 680 863 691
E-mail: anne.guerin-moens(at)sbmoffshore.com
Website: www.sbmoffshore.com
To see the full version of this press release please click on the
link below:
SBM Offshore press release:
http://hugin.info/130754/R/1684573/551631.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SBM Offshore N.V. via Thomson Reuters ONE
[HUG#1684573]
Unternehmensinformation / Kurzprofil:
Datum: 12.03.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 238249
Anzahl Zeichen: 5900
contact information:
Town:
Schiedam
Kategorie:
Business News
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"SBM Offshore and Yme Owners reach conclusion and financial settlement on Yme Project"
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