SBM Expects to Receive Major Orders in Near Future

SBM Offshore is expecting the award of three major orders in the near future said chief executive Didier Keller.

At a shareholders meeting, Keller said the first project "is most important in our 2008 workload" which is an FPSO for Woodside on the Cossack field in Australia. The client intends to order this unit on a turnkey sales basis and engineering work is already in progress.

Other projects expected to be awarded are an FPSO for Petrobras' Cachalote field offshore Brazil and a commitment from BP for two FPSOs for Block 31 offshore Anogla.

The FPSO for the Cachalote field offshore Brazil involves the relocation and the adaptation of one of our existing units. It will have a portfolio value equivalent to that of a mid-size FPSO and Petrobras is expected to make a decision soon.

The BP commitment will enable the company to proceed with the development of the construction yard planned in Porto Amboim.

Additionaly, SBM has focused research and development resources on new products in two key areas: the further improvement of existing technology in ultra-deepwater particularly TLP applications and the disconnectable mooring systems, as well as the improvement of new technologies for the exploitation of offshore gas and the development of solutions for renewable energy systems.