SBM Offshore Adds to Its Order Book

SBM Offshore's subsidiary, Atlantia Offshore Limited, is being awarded an EPCM contract by BHP Billiton and its partners for a SeaStar® tension leg platform for the Neptune field, Gulf of Mexico. The Seastar® TLP, Atlantia's fifth in the Gulf of Mexico, will be installed in 4,300ft of water and will have capacity for 50,000 BOPD, 50 MMSCFD gas throughput and 30,000 BWPD water injection. Atlantia receives the contract after completing the Front End Engineering and Design (FEED) study that was awarded in December 2004.

The contract is for the complete TLP, including topsides facilities, and installation and commissioning assistance. SBM-Imodco, another Group subsidiary, will design the topside facilities. The TLP is scheduled to be installed in 2007, with seven initial subsea wells tying back to the facility. The Neptune Field is located in the central Gulf of Mexico approximately 120 miles offshore Louisiana.

A Letter of Authorisation (LoA) from Star Deep Water Petroleum Limited, Nigeria (a Chevron subsidiary) was signed in consortium with Stolt for the design, supply and offshore installation of a Deepwater Offloading Export System for the Agbami development offshore Nigeria. Other Partners in the Agbami Development include Texaco Nigeria Outer Shelf Inc. (an affiliate of the Chevron Corporation), Petroleo Brasileiro Nigeria Limited, Statoil Nigeria Limited, Famfa Oil Limited and the NNPC.

The LoA includes the 2 x 20" Oil Offloading Lines (OOL) which will connect the FPSO to the Export System that will be installed at a distance of around 1,800 meters from the FPSO in approximately 1,400 meter water depth. The Export System has a diameter of 23 meters, is moored by 3x3 bundles of chain/steel wire rope combination and will be designed to moor tankers of up to 315,000 DWT with an oil offloading rate of 45,000 barrels of oil per hour. Fabrication of the buoy and anchor piles will be executed in Nigeria and the terminal is scheduled to be installed end of 2007 / early 2008.