SBM Offshore N.V. : SBM Offshore - FRAM FPSO update

             SBM Offshore N.V. : SBM Offshore - FRAM FPSO update

SBM Offshore confirms it has been notified by Shell, that in light of
unexpected well results, they have decided to reassess the development plan
for the Fram oil and gas field in the UK North Seaand not to continue with
several key contracts associated with this development including the FPSO.

SBM Offshore has been working on an FPSO solution for this field under a
letter of interim award (LoIA) announced on 15 June 2012.As the project was
awaiting contract finalisation, it had not been included in SBM Offshore's
project portfolio and backlog as published on 14 February 2013.

For further information, please contact:

Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer

Telephone: (+377) 92 05 85 15
Mobile:    (+33) 643 919 312

Media Relations
Anne Guerin-Moens
Group Communications Director

Telephone: (+377) 92 05 30 83
Mobile:    (+377) 680 863 691

To see the full version of this press release please click on the link below:

SBM Offshore Press Release


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Source: SBM Offshore N.V. via Thomson Reuters ONE
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