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SBM Delivers FPSO OSX-2, Commissioning Deep Panuke MOPU

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SBM Offshore N.V., the Netherlands-based floating solutions provider, announced Wednesday the successful delivery of FPSO OSX-2. The vessel was delivered to the client, OSX Brasil S.A.'s subsidiary OSX 2 Leasing B.V. (OSX)  this week.

With a total topside weight of over 10,000 tons and a production capacity of 100,000 barrels of oil per day, the facility was constructed in 27 months from contract award to delivery.

Bruno Chabas, CEO of SBM Offshore commented:

“We are pleased to announce the delivery of OSX-2, a turnkey project that was constructed on time and on budget for our client OSX. In particular, I would like to recognize our global project management team for a job well done.”

Deep Panuke Update

The Deep Panuke MOPU (mobile offshore production unit) continues commissioning activities leading up to production acceptance and the start of the lease contract. These activities involve achieving a steady state of production and are taking the time required to safely start the gas platform. SBM Offshore expects the activities to be completed in the coming weeks and will inform the market at that stage.

The Deep Panuke project produces and processes natural gas from the Deep Panuke field, approximately 155 miles (250 kilometers) southeast of Halifax, Nova Scotia on the Scotian Shelf, Canada. The platform is designed to produce up to 300 million cubic feet per day (MMcf/d) of natural gas.

The terms of the lease and operate contract are for a minimum period of eight years with annual extension provisions of up to a maximum of twelve additional years.

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