The Netherlands: SBM Offshore’s 3Q Revenues Hit USD 2.2 Billion

SBM Offshore, a Dutch-based global group of companies selling and renting systems and services to the offshore oil and gas industry, today announced its 3rd quarter revenues of $2.2 billion. The company’s order portfolio on 30 September 2011  stood at US$ 15.7 billion, which is an increase of 53% when compared to the same period a year before.

When it comes to the development of order portfolio, SBM Offshore , as one of the main points, highlighted a Letter of Intent signed with Petrobras for 20 year lease of FPSO Cidade de Ilhabela for the Guará Norte pre-salt field offshore Brazil. The unit will be owned and operated by a consortium in which SBM Offshore’s shareholding is 62.25%. The vessel  recently entered the Guangzhou shipyard in China for refurbishment works. At the same time preparation for module fabrication in Brazil continues while engineering and procurement activities are progressing well.

The project schedule foresees delivery of the FPSO in 35 months from LOI.

Also, the company said that contract negotiations were in progress with ENI Angola SpA following a Letter of Intent (LOI) for the relocation of FPSO Xikomba for a twelve year lease and operate contract for an oil field development on block 15/06 offshore Angola.

First Production for FPSO Aseng

SBM Offshore on Tuesday reported that FPSO Aseng commenced first oil production on 6 November 2011 on the Aseng field located in approximately 1,000 meters of water in Block I, offshore Equatorial Guinea. “This major project milestone marks the final delivery and hand over of the FPSO to Noble Energy EG Ltd., a subsidiary of leading US-based independent energy company Noble Energy Inc​. and has been reached two months ahead of schedule.” said the company in a press release.

Tony Mace, CEO of SBM Offshore: “The delivery of the FPSO Aseng two months ahead of schedule follows the early completion of the P57 FPSO last year and confirms our capability to deliver highly sophisticated FPSOs on time. We are also pleased the third drilling rig has been delivered to our client, completing the series of three rig orders obtained in 2006/2007. The order intake so far this year includes two FPSOs and two complex turret mooring systems, and amounts to  more than US$ 6 billion which is very satisfactory and reflects the current buoyant market conditions for our products and services.”

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Offshore Energy Today Staff , November 17, 2011