SOURCE: SBM Offshore N.V.

February 21, 2007 12:03 ET


SCHIEDAM, NETHERLANDS -- (MARKET WIRE) -- February 21, 2007 --

SBM Offshore N.V. is pleased to announce that the Company has recently received an extension of one of its FPSO lease contracts and a number of orders in the turnkey supply segment of its activities.

1. FPSO Lease Extension

Petrobras has exercised the three year extension option in the lease contract of the FPSO Brasil, owned and operated in joint venture between SBM and MISC Berhad, thus extending the service of this FPSO in the Roncador field offshore Brazil until May 2012.

2. Turnkey Supply Orders

During recent weeks the Company secured a number of turnkey supply orders as follows:

* From Total Cameroun a contract for the supply and the offshore change out of a CALM buoy and ancillaries at the Kole field offshore Cameroon. The CALM buoy, built at the yard of Nigerdock in Lagos is the second structure for the offshore industry locally built by SBM in Nigeria and subsequently exported;

* From Statoil ASA the order to supply a very large swivel stack comprising high pressure oil and gas flow paths and hydraulic and electric control swivels. The stack will be installed on the Norne FPSO operating offshore Norway as part of an upgrade of the vessel and tie-in of additional production;

* From the Chinese drilling contractor CSOL an order for the provision of the basic design package for the construction of two jack-up drilling rigs and the supply of the leg fixation and drill floor skidding systems for these two units.

3. Portfolio Value

The cumulative portfolio value of the above orders is approximately 130 million US Dollars.

4. Final Results 2006 - Analysts Presentation - New Dates

The Company has brought forward the dates for the press release of the final results 2006 and the subsequent analysts presentation as follows:

* Press release final results 2006: Monday March 26 at 18.00 hrs CET * Analysts presentation in Amsterdam: Tuesday March 27 at 16.00 hrs CET

The analysts presentation will be webcast on the Company website.

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information

  • Contact person:
    Mr. Hans Peereboom
    V.P. Investor Relations

    Telephone: (+377) 92 05 14 34
    Mobile: (+377) (0) 6 80 86 52 58
    Fax: (+377) 92 05 89 40
    E-mail: Email Contact