SBM OFFSHORE AWARDED AGREEMENT FOR LEASE OF FPSO FOR ASENG FIELD BY
NOBLE ENERGY IN EQUATORIAL GUINE
(Thomson Reuters ONE) - SBM Offshore N.V. is pleased to announce the following news:1. Lease and Operate agreement for FPSO for Aseng field inEquatorial Guinea.A Letter of Agreement (LOA) has been signed with Noble Energy EGLtd., a subsidiary of leading US-based independent energy companyNoble Energy Inc. (Noble Energy, NYSE: NBL), for the provision, leaseand operation of an FPSO for the development of the Aseng fieldlocated in approximately 1,000 meters of water in Block I, offshoreEquatorial Guinea.The FPSO, which will be based on the conversion of a VLCC hull fromSBM Offshore's inventory, will serve not only the Aseng field, butalso establish a liquids hub for Noble's future developments in thearea with capacity for 120,000 barrels of liquids per day, includingprocessing of 80,000 barrels of oil and injection of up to 150,000barrels per day of water, as well as handling 170 million standardcubic feet per day of gas. The unit will have storage capacity for1.6 million barrels of oil including up to 500,000 barrels ofcondensate.It is the intention of SBM Offshore to execute the contract through aJoint Venture established with Guinea Ecuatorial De Petróleos(GEPetrol), the National Oil Company of Equatorial Guinea. BeyondAseng, this partnership will work to promote Equatorial Guinean localcontent in oil and gas activities and further enhance the developmentof the country's oil and gas industry.The Aseng FPSO will be SBM Offshore's second operated unit inEquatorial Guinea and its ninth operated facility offshore WestAfrica.The initial firm commitment of Noble Energy under the contract is fora period of fifteen years, commencing in late 2011, with provisionsfor further extensions up to five years.The total undiscounted cumulative Portfolio Value to SBM Offshore ofthe above order is approximately US$ 1.2 billion, with the leasecontract expected to qualify as a finance lease for financialreporting purposes.Contact person: Mr. Sebastiaan de Ronde BresserTelephone: (+377) 92 05 85 15Mobile: (+33) 6 43 91 93 12Fax: (+377) 92 05 89 40E-mail: sebastiaan.derondebresser(at)sbmoffshore.comWebsite: www.sbmoffshore.comTo see the complete pdf version of this press release, please on thelink below:http://hugin.info/130754/R/1337288/318605.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.08.2009 - 16:35 Uhr
Sprache: Deutsch
News-ID 5122
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NOBLE ENERGY IN EQUATORIAL GUINE"
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