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SBM Offshore - FRAM FPSO update


SBM Offshore - FRAM FPSO update

SCHIEDAM, THE NETHERLANDS -- (Marketwire) -- 02/21/13 -- 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 Sea and 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.

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

SBM Offshore Press Release: http://hugin.info/130754/R/1680250/548950.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

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

[HUG#1680250]

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 E-mail: sebastiaan.derondebresser@sbmoffshore.com

Website: www.sbmoffshore.com

Media Relations Anne Guerin-Moens Group Communications Director Telephone: (+377) 92 05 30 83 Mobile: (+377) 680 863 691 E-mail: anne.guerin-moens@sbmoffshore.com Website: www.sbmoffshore.com

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