SBM Offshore Books New Lease and Turnkey Supply Orders

SBM Offshore N.V. has recently received a number of Orders and Letters of Intent in both the lease and the turnkey supply segments of its activities.


From Sakhalin Energy Investment Company an extension of the lease contract of the FSO Okha, operating offshore Sakhalin Island, Russia, for an undetermined period of time with a six months termination notice.

Turnkey Supply

Letters of Intent for the supply of CALM type offshore tanker terminals from Sonangol for the Palanca field offshore Angola, from Zakum Development Company for the export terminal at Zirku Island in Abu Dhabi and from Punj Lloyd for the Heera field of ONGC offshore India;

Letter of Intent from IHC Holland Merwede for the design and supply of a 5,000 tons revolving offshore crane. The crane is to be installed on a vessel designed by the Company and to be built by IHC Holland for Seaway Heavy Lifting. Delivery of the crane is scheduled for the second quarter of 2010;

Order from PetroProd for the basic design package for the construction of a GustoMSC CJ-70 harsh environment drilling jack-up rig and a Letter of Intent from Jurong Shipyard in Singapore for the supply of special components for these units. The components consist of the jacking system, leg fixation system and the Company's patented X-Y cantilever skidding system;

Letter of Intent from Jurong Shipyard in Singapore for the supply of the jacking system and a 550 tons offshore revolving crane for a self-elevating platform. This platform was originally designed by the Company for Saudi Aramco who subsequently awarded the construction contract to Jurong;

A license agreement with Seajacks for the basic design of two GustoMSC NG2500 jack-ups and an order from Lamprell for the supply of the associated jacking systems;

An agreement with Global Maritime for the provision of jack-up technology for two jack-ups for Master Marine and a Letter of Intent from Labroy Shipbuilding & Engineering for the supply of the associated fixation systems.

Portfolio Value

The cumulative Portfolio Value of the above orders is around US $200 million.