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SBM Offshore N.V — Earnings Release 2009
Jul 10, 2009
3882_iss_2009-07-10_d790dd82-6f9d-402e-a44a-c81245e7764e.pdf
Earnings Release
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SBM OFFSHORE – FIRST OIL ON THUNDER HAWK
1. First Oil on Thunder Hawk Deep Draft Semi
SBM Offshore is pleased to announce that the Thunder Hawk DeepDraft Semi™ commenced processing production from the Thunder Hawk Field in Mississippi Canyon Block 734 on 8 July 2009. The Thunder Hawk field is located 240 kilometres south-east of New Orleans, in a water depth of 1,745 metres.
Murphy Exploration & Production Company - USA is the field operator and operates the Thunder Hawk Floating Production Unit (FPU) on behalf of SBM Offshore. The other owners of the Thunder Hawk field are Eni, StatoilHydro USA E&P Inc. and Marubeni Oil & Gas (USA) Inc.. Together they lease the FPU with firm capacity for an initial period of five years under a production handling agreement.
The Thunder Hawk FPU has process capacity of 45,000 bpd of oil and 70mmcf/d of gas and is designed to serve as an area wide "hub" for other fields. The produced oil and gas will be exported via steel catenary risers into existing pipelines. SBM Offshore designed and constructed the hull as well as the process facilities in house and was also responsible for installation of the FPU. The DeepDraft Semi's hull was fabricated in Singapore, while the topsides facilities were fabricated and integrated on to the hull in south Texas.
The Thunder Hawk FPU is the second DeepDraft Semi™ designed and constructed by SBM Offshore for the ultra-deep Gulf of Mexico waters. SBM Offshore previously designed and constructed the world's first DeepDraft Semi for Enterprise Products Partners' Independence Hub project located in a record setting 2,454 metres water depth.
The Thunder Hawk FPU is the Company's first owned unit in the Gulf of Mexico and the first production handling agreement type contract. This is in line with the strategy of SBM Offshore to expand its leasing activities to offshore oil and gas production concepts beyond the current FPSOs, and to enter new geographical areas for its leasing operations.
2. Financial Agenda
| Half-year Results 2009 - Press Release | 19 August | 2009 |
|---|---|---|
| Half-year Results 2009 - Analysts Presentation (Amsterdam) | 19 August | 2009 |
| Trading Update Q3 2009 - Press Release | 11 November | 2009 |
3. Corporate Profile
The Dutch public company SBM Offshore N.V. is the holding company of a group of international, marine technology orientated companies. Its business is to serve on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.
The product line comprises:
- Offshore import/export terminals for crude oil, refined products, LPG and LNG, mostly based on the single point mooring principle, Floating Production and/or Storage and Offloading systems (FSOs and FPSOs) and other floating production facilities based on ship hulls, semi-submersibles and Tension Leg Platforms (TLPs);
- Offshore oil and gas production services through the leasing of integrated production and storage facilities owned and operated by the Company;
- Design, construction and supply of semi-submersible drilling platforms;
- Special designs and engineering services and delivery of specific hardware components for dynamically positioned drillships, semi-submersible drilling platforms, jack-up drilling platforms, jack-up platforms for civil construction, large capacity offshore cranes, elevating and lifting systems, crane vessels and other specialised work vessels;
- Offshore construction and installation contracting services.
The Board of Management Schiedam, 10 July 2009
For further information:
SBM Offshore N.V. Karel Doormanweg 66 3115 JD Schiedam
Post address:
P.O. Box 31 3100 AA Schiedam The Netherlands
Contact person: Mr. Sebastiaan de Ronde Bresser
| Telephone: | (+377) 92 05 85 15 |
|---|---|
| Mobile: | (+33) 643 919 312 |
| Fax: | (+377) 92 05 89 40 |
| E-mail: | [email protected] |
| Website: | www.sbmoffshore.com |
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.