SBM Wins Production Handling Deal with Noble Energy in GOM

Dutch floating production system specialist SBM Offshore reported Thursday that it has signed a production handling agreement with Noble Energy to produce the Big Bend and Dantzler fields to the Thunder Hawk DeepDraft Semi platform in the Gulf of Mexico.

The Thunder Hawk platform is located in 6,060 feet of water and is 18 miles from the Big Bend field and seven miles from the Dantzler field. Noble operates the Big Bend and Dantzler fields, with 54-percent and 45-percent working interests respectively in the fields.

SBM said that production fees associated with produced volumes are estimated to lead up to projected revenue of $400 million to be delivered over the 10-year primary contract period. First oil from Big Bend and Dantzler is expected in late 2015 and 1Q 2016 respectively.

The Thunder Hawk DeepDraft Semi, installed in July 2009, was developed as a steel catenary riser-friendly floater solution. The deck and hull can be integrated quayside avoiding costly offshore lifting and system commissioning operations.

SBM CEO Bruno Chabas commented in a company statement:

"SBM Offshore is pleased that the Thunder Hawk platform allowed for a cost effective development solution for Noble Energy and its partners. The deep-water semi solution offers numerous advantages for subsea developments including reduced development capital, lower operating costs and an accelerated development schedule. This confirms the strategic value of the platform for deep-water Gulf of Mexico production, and we are excited to be offering valuable solutions in supporting the development of the Big Bend and Dantzler fields."



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