New FPSO for North West Shelf JV to Replace Cossack Pioneer in 2010

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SBM Offshore announced that the full scope turnkey supply contract for a disconnectable FPSO for Woodside Energy Ltd and the Cossack Wanaea Lambert Hermes (CWLH) Joint Venture has been signed. The project has already started in May 2008 under a Letter of Intent, which was previously announced.

The FPSO will replace the currently operating FPSO Cossack Pioneer in the fourth quarter of 2010.

The SBM Offshore owned Okha FSO will be used for conversion into an FPSO with a disconnectable turret. The Okha FSO is currently under contract with SEIC for operation in Sakhalin until December this year. It will sail to Keppel shipyard in Singapore for conversion and integration of the process modules and turret.

The CWLH project is one of Australia's most productive oil developments and is located 135km northwest of Karratha in Western Australia. The CWLH Joint Venture participants are BHP Billiton Petroleum (North West Shelf) Pty Ltd, BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd and Operator Woodside Energy Ltd.

Other Turnkey Supply Orders

  • Two contracts for the supply and replacement of new CALM type offshore tanker terminals, and the related offshore change out operations;
  • Several contracts for the supply of specialized components for jackup drilling rigs and other offshore structures.
  • The total portfolio value of the above contracts represents more than US $700 million, including the initial commitment of US $145 million under the LOI for the supply of the FPSO.
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