SBM Offshore N.V. Receives Extensions on Contracts for the LPG FSO NKOSSA II and for FSO Unity from Total

Friday, Jul 02, 2010

SBM Offshore N.V. is pleased to announce the following:

1.       Extension of the LPG FSO NKOSSA II lease and operate contract from Total E&P Congo

Total E&P Congo, acting as Operator of the Nkossa licence in Congo (a Joint Venture between Total E&P Congo, Chevron Overseas Congo and Société Nationale des Pétroles du Congo), has signed an extension to the lease and operate contract for the LPG FSO NKOSSA II. The contract extension will be between 5 and 10 years and will commence when the current lease expires in November 2011. The firm lease duration will be decided by Total E&P Congo by the end of 2010 with options for additional years up to a maximum lease extension period of 10 years. 

The lease and operate contract will continue to be executed through the A.P. Moller - Maersk Group (51%) and SBM Offshore (49%) Joint Venture.

2.       FSO Unity operating contract extension of twelve months

The operating contract with Total for the FSO Unity, located on the Amenam field offshore Nigeria, has been extended by twelve months until 30 June 2011.

Source: SBM Offshore