SBM Offshore is pleased to announce that FPSO Turritella is formally on hire as of September 2, 2016 after achieving Commencement of Commercial Production (CoCP). The CoCP certificate was issued on September 8, 2016.
The vessel is installed in ShellÂs Stones development located in 2,896 meters (9,500 feet) of water approximately 320 kilometres (200 miles) offshore Louisiana in the Walker Ridge area. The lease and operate contracts include an initial period of 10 years with future extension options up to a total of 20 years.
The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha in which SBM OffshoreÂs shareholding is 55%.
Corporate Profile
SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group (âthe Companyâ).
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 CompanyÂs main activities are the design, supply, installation, operation and the life extension 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 sale basis.
As of December 31, 2015, Group companies employed approximately 7,000 people worldwide. Full time company employees (4,900) are spread over five regional centers, eleven operational shore bases and the offshore fleet of vessels. A further 2,100 are working for the joint ventures with several construction yards. Please visit our website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication ÂSBM 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 Management Board
Amsterdam, The Netherlands, September 8, 2016
Financial Calendar | Date | Year |
Trading Update 3Q 2016 Â Press Release | November 9 | 2016 |
Extraordinary General Meeting of Shareholders | November 30 | 2016 |
Full-Year 2016 Earnings  Press Release | February 8 | 2017 |
Annual General Meeting of Shareholders | April 13 | 2017 |
Trading Update 1Q 2017 Â Press Release | May 10 | 2017 |
Half-Year 2017 Earnings  Press Release | August 8 | 2017 |
For further information, please contact:
Investor Relations
Nicolas D. Robert
Head of Investor Relations
Telephone: | +31 (0) 20 2363 126 |
Mobile: | +31 (0) 6 5461 2410 |
E-mail: | [email protected] |
Website: | www.sbmoffshore.com |
Media Relations
Vincent Kempkes
Head of Communications
Telephone: | +31 (0) 20 2363 170 |
Mobile: | +31 (0) 6 25 68 71 67 |
E-mail: | [email protected] |
Website: | www.sbmoffshore.com |
Disclaimer
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on managementÂs current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the CompanyÂs business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as ÂbelievesÂ, ÂmayÂ, ÂwillÂ, ÂshouldÂ, Âwould beÂ, Âexpects or Âanticipates or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.