Bluewater Wins SPM Contract from OXXO SA

Bluewater Energy Services B.V. has been awarded a contract by OXXO SA for the supply of a buoy for the new SPM loading terminal for the La Libertad Refinery offshore Guyaquil in Equador. The Refinery of La Libertad is part of PetroIndustrial, which is a subsidiary of the state oil company PetroEcuador.

Bluewater's scope of supply consists of the design and supply of a square, turret catenerary anchor leg mooring (CALM) buoy including mooring chains, anchors and hawser arrangement. The delivery of the complete system is expected to take place in November 2004.

The CALM buoy will be installed some 5.5 km offshore of the Refinery of La Libertad, in a water depth of approximately 15 meters. The buoy will be operated using one 16-inch hose string to service tankers up to 45,000 dwt visiting the terminal.

Hugo Heerema, President/CEO of Bluewater comments, "For this fast track CALM buoy project, Bluewater will utilize a stock buoy that was fabricated at Malta Shipyards. The buoy has already been shipped to Equador for arrival in early October. The utilization of the Bluewater stock buoy allows Oxxo SA to maintain its intended project schedule for installation of the buoy at the end of 2004."

OXXO SA is the main contractor responsible for the design, supply and installation of the complete new offshore terminal, including the required onshore pumping facilities.

Bluewater Energy Services B.V., a member of the Bluewater Group of Companies, has built a technological lead specializing in lease and operation of tanker-based Production and Storage (FPSO/FSO) systems, and has become a leading provider of innovative Single Point Mooring (SPM) systems. Bluewater operates worldwide with offices in The Netherlands, United Kingdom, United States, Nigeria, Angola, South Africa, Singapore and China.