SBM Offshore N.V. : SBM Offshore Awarded Contracts to Provide World's Deepest
Disconnectable FPSO for Shell Stones in Gulf of Mexico
22 July 2013
FPSO for Stones
SBM Offshore is pleased to announce it has signed contracts with Shell
Offshore Inc. to supply and lease an Floating Production Storage and
Offloading (FPSO) for the Stones development project in the Gulf of Mexico.
The contracts include an initial period of 10 years with future extension
options up to a total of 20 years. The Stones development is located in 2,896m
(9500ft) of water approximately 320km (200 miles) offshore Louisiana in the
Walker Ridge area. When installed, the Stones FPSO will be the deepest FPSO
development in the world.
The converted Suezmax FPSO will have a turret with a disconnectable buoy
(Buoyant Turret Mooring or BTM) allowing it to weathervane in normal
conditions and disconnect from the FPSO upon the approach of a hurricane. The
BTM will be configured with Steel Lazy-Wave Risers (SLWR) which will be a
first application for a disconnectable FPSO. The mooring system will also
incorporate the ability to adjust line tension during operations by use of an
In-Line Mooring Connector (ILMC). SBM Offshore's 30 years of turret experience
including the delivery of nearly 50 systems will be leveraged to supply this
pioneering BTM system.
The FPSO is a typical generation 2 design with a processing facility capacity
of 60,000 barrels of oil per day (bopd) and 15 mmscfd of gas treatment and
export. No water injection facilities are specified. The Suezmax hull will be
able to store 800,000 barrels of crude oil and total topsides weight will
reach 7 thousand tons.
In March 2012, Shell and SBM Offshore signed an Enterprise Framework Agreement
(EFA) for the supply of medium and small FPSOs on a lease and operate basis.
The Stones FPSO is the first Shell project to award contracts utilizing the
EFA. SBM Offshore and Shell have been engaged in front-end development work
for the Stones FPSO solution for the past two years. Execution work has
already commenced in SBM Offshore's Houston Execution Center with early
procurement and commitments underway.
The total asset value of the FPSO is approximately US$ 1 billion.
SBM Offshore CEO Bruno Chabas commented: "We are delighted to have been
selected to supply the deepest floating installation in the world, setting a
new technological benchmark and confirming our position as a leader in the
FPSO market and large turret mooring systems for Deepwater. The Stones project
is the latest successful FPSO award with Shell and reaffirms SBM's continued
focus on building long term relationships and FPSO-led strategic vision. We
look forward to working on further groundbreaking projects with Shell in the
years to come."
Financial Calendar Date Year
Half-year Results 2013 - Press Release (18.00 CET) 07-Aug 2013
Half-year Results 2013 - Analysts Presentation (19:00 CET) 07-Aug 2013
Trading Update Q3 2013 - Press Release (07.30 CET) 14-Nov 2013
SBM Offshore N.V. is a listed holding company that is headquartered in
Schiedam. It holds direct and indirect interests in other companies that
collectively with SBM Offshore N.V. form the SBM Offshore group ("the
SBM Offshore provides floating production solutions to the offshore energy
industry, over the full product life-cycle. The Company is market leading in
leased floating production systems with multiple units currently in operation,
and has unrivalled operational experience in this field. The Company's main
activities are the design, supply, installation and operation of Floating
Production, Storage and Offloading (FPSO) vessels. These are either owned and
operated by SBM Offshore and leased to its clients or supplied on a turnkey
Group companies employ over 7,400 people worldwide, who are spread over five
execution centres, eleven operational shore bases, several construction yards
and the offshore fleet of vessels. Please visit our website at
The companies in which SBM Offshore N.V. directly and indirectly owns
investments are separate entities. In this communication "SBM Offshore" is
sometimes used for convenience where references are made to SBM Offshore N.V.
and its subsidiaries in general, or where no useful purpose is served by
identifying the particular company or companies.
The Board of
Schiedam, 22 July 2013
For further information, please contact:
Sebastiaan de Ronde Bresser
Investor Relations Officer
Telephone: (+377) 92 05 85 15
Mobile: (+33) 643 919 312
Group Communications Director
Telephone: (+377) 92 05 30 83
Mobile: (+377) 680 863 691
To see the complete version of this press release, please click on the link
SBM Offshore Press Release
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Source: SBM Offshore N.V. via Thomson Reuters ONE
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