SOURCE: SBM Offshore N.V.

April 13, 2010 11:56 ET

SBM OFFSHORE N.V. RECEIVES LETTER OF PRE-COMMITMENT FOR LEASE FPSO FOR BRAZIL'S PRE-SALT AREA FROM PETROBRAS

SCHIEDAM--(Marketwire - April 13, 2010) -


1. FPSO for Brazil pre-salt area

SBM Offshore N.V. is pleased to announce that one of its Affiliates and Queiroz Galvao Oleo e Gas S.A. (QGOG), have received a Letter Of Pre-commitment (LOP) from PETROBRAS NETHERLANDS B.V. (PNBV), 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 the charter and operation of an FPSO for the pre-salt area, offshore Brazil.

The agreement covers the early phase of the project and allows SBM Offshore and QGOG to commence engineering and procurement work on the project.

Petrobras expects to advise on the award of a full letter of intent for the project within one month when further project information will be provided. The charter and operation contracts are expected to be executed towards the end of the second quarter of 2010.

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@sbmoffshore.com

Website: www.sbmoffshore.com


To see the complete pdf version of this press release, please click on the link below:



[HUG#1403178]





SBM Offshore Press Release: http://hugin.info/130754/R/1403178/357518.pdf



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