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SBM Offshore N.V — M&A Activity 2011
Aug 11, 2011
3882_iss_2011-08-11_53d46066-017e-488f-869a-c9af21528bc7.pdf
M&A Activity
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Press release - SBM Offshore N.V. 11 August 2011
SBM OFFSHORE N.V. RECEIVES LETTER OF INTENT FOR LEASE FPSO FOR BRAZIL'S GUARÁ NORTE FIELD FROM PETROBRAS
1. FPSO for Brazil pre-salt area
SBM Offshore N.V. is pleased to announce that one of its Affiliates and Queiroz Galvão Óleo e Gás S.A. (QGOG), have received two Letters Of Intent (LOI), one from GUARA BV and one from BM-S-9 Consortium, established by the companies PETROLEO BRASILEIRO S.A. – PETROBRAS (Operator, 45%), BG E&P BRASIL LTDA (30%), and REPSOL SINOPEC BRASIL S.A. (25%) for a twenty year charter and operation of an FPSO for the Guará Norte development in the pre-salt area, offshore Brazil.
The Guará Norte field is located in block BM-S-9 in the Santos basin at approximately 300 kilometres offshore and 2,300 metres water depth. The FPSO will include topside facilities to process 150,000 bpd of production fluids, associated gas treatment for 6,000,000 Sm3 /d with compression and carbon dioxide removal, hydrogen sulphide removal, and a water injection facility for 180,000 bpd.
It is the intention that the unit will be owned and operated by a consortium in which SBM Offshore's shareholding will not be less than 49.5% and not exceed 62.25%.
The project schedule foresees delivery of the FPSO in 35 months from LOI.
The non-discounted total of the revenues payable under this contract to the consortium, excluding escalation and bonus, amounts to approximately US\$ 4.5 billion.
2. Financial Agenda
| Half-year Results 2011 - Press Release (07.30 CET) | 18 August | 2011 |
|---|---|---|
| Half-year Results 2011 - Analysts Presentation (Amsterdam) | 18 August | 2011 |
| Trading Update Q3 2011 - Press Release (07.30 CET) | 17 November | 2011 |
| Full-year Results 2011 - Press Release (07.30 CET) | 02 March | 2012 |
| Full-year Results 2011 - Analysts Presentation (Amsterdam) | 02 March | 2012 |
| Publication Annual Report and Agenda Annual General Meeting of Shareholders | 28 March | 2012 |
| Trading Update Q1 2012 - Press Release (07.30 CET) | 16 May | 2012 |
| Annual General Meeting of Shareholders (Rotterdam) | 16 May | 2012 |
| Half-year Results 2012 - Press Release (07.30 CET) | 16 August | 2012 |
| Half-year Results 2012 - Analysts Presentation (Amsterdam) | 16 August | 2012 |
| Trading Update Q3 2012 - Press Release (07.30 CET) | 15 November | 2012 |
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, 11 August 2011
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 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.