Annual Report 2010 - SBM Offshore

Report of the Board of Management
Operating Activities 2010
Lease and Operate Activities
The Year at a Glance
Month Unit Client Activity
January Kuito FPSO Cabinda Gulf Oil Company Ltd. Lease and operate contract extended by one year
to 26 January 2011. Since year-end the contract
was extended until 31 March 2011.
February FPSO Capixaba Petrobras Completion of conversion works in Singapore;
re-deployment at the new Cachalote field offshore
Brazil.
May FPSO Capixaba Petrobras First oil achieved; unit is under a twelve-year lease
and operate contract.
56 SBM Offshore – Annual Report 2010
FPSO Serpentina Mobil Equatorial Guinea Inc. Operate contract extended for one year up to
August 2011.
FPSO Cidade de
Paraty
June FSO Unity Total Exploration Production
Nigeria Limited
Petrobras Company received a Letter of Intent from for a
twenty-year lease and operate contract (commencing
March 2013) on the Lula Nordeste field
offshore Brazil.
Operate contract extended for a year up to 30
June 2011.
LPG FSO Nkossa II Total Congo Lease and operate contract extended for a
firm period of five years with options for further
extension.
August FPSO Espadarte Petrobras New eighteen-year lease and operate contract
was signed for relocation on the Baleia Azul field.
September Deep Draft®Semisubmersible
production facility
Hess Letter of Agreement was received for a five-year
lease and operate agreement for the Tubular Bells
field. The agreement contains an element of production
throughput related revenue.
October FPSO Xikomba Esso Angola Exploration Limited Lease and operate contract extended for one year
with a 90-day notice period for termination. Since
year-end the Company has received notification of
termination from EEAL and expects that the unit
will be released mid-2011.
December FPSO P-57 Petrobras First oil achieved; 33-month construction period
in both Singapore and Brazil. The Company will
operate the FPSO for the coming three years.