AI assistant
SBM Offshore N.V — M&A Activity 2008
Dec 3, 2008
3882_iss_2008-12-03_a2725990-878d-4d5d-bcdb-7e6e0f605d94.pdf
M&A Activity
Open in viewerOpens in your device viewer
SBM OFFSHORE N.V. CONFIRMS FULL SCOPE CONTRACT FOR FPSO FOR WOODSIDE ENERGY Ltd
1. FPSO for the North West Shelf Venture in Australia
SBM Offshore N.V. is pleased to announce that the full scope turnkey supply contract for a disconnectable FPSO for Woodside Energy Ltd and the Cossack Wanaea Lambert Hermes (CWLH) Joint Venture has been signed. The project has already started in May 2008 under a Letter of Intent, which was previously announced.
The FPSO will replace the currently operating FPSO Cossack Pioneer in the fourth quarter of 2010. The SBM Offshore owned Okha FSO will be used for conversion into an FPSO with a disconnectable turret. The Okha FSO is currently under contract with SEIC for operation in Sakhalin until December this year. It will sail to Keppel shipyard in Singapore for conversion and integration of the process modules and turret.
The CWLH project is one of Australia's most productive oil developments and is located 135km northwest of Karratha in Western Australia. The CWLH Joint Venture participants are BHP Billiton Petroleum (North West Shelf) Pty Ltd, BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd and Operator Woodside Energy Ltd.
2. Other Turnkey Supply orders
Two contracts for the supply and replacement of new CALM type offshore tanker terminals, and the related offshore change out operations;
Several contracts for the supply of specialised components for jack up drilling rigs and other offshore structures.
The total portfolio value of the above contracts represents more than US\$ 700 million, including the initial commitment of US\$ 145 million under the LOI for the supply of the FPSO.
| Preliminary Results 2008 - Conference Call | 27 January | 2009 |
|---|---|---|
| Final Results 2008 Press Release | 10 March | 2009 |
| Final Results 2008 - Analysts Presentation (Amsterdam) | 11 March | 2009 |
| Annual Report 2008 | End April | 2009 |
| Annual General Meeting of Shareholders 2008 | 14 May | 2009 |
| Ex-dividend Date | 18 May | 2009 |
| Half-year Results 2009 - Press Release | 18 August | 2009 |
| Half-year Results 2009 - Analysts Presentation (Amsterdam) | 19 August | 2009 |
3. Financial Agenda
4. 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, 3 December 2008
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) 6 43 91 93 12 |
| 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 materialize, 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.