2008 Annual Report - SBM Offshore

106 SBM Offshore Annual Report 2008 / Financial Statements 2008Geographical segmentsThe following tables present revenue, capital expenditure and certain asset information regarding theCompany’s geographical segments for the years ended 31 December 2008 and 2007.In US$000 2008 2007% %RevenueEurope 301,717 10 88,128 3North, Middle and South America 1,466,707 48 1,149,411 40Africa 687,147 22 1,102,134 38Middle-East / Asia / Australia 604,705 20 531,541 19Total revenue 3,060,276 100 2,871,214 100AssetsEurope 662,752 15 516,869 14North, Middle and South America 1,977,093 46 1,322,181 37Africa 1,044,046 24 1,204,097 33Middle-East / Asia / Australia 661,103 15 591,475 16Total assets 4,344,994 100 3,634,622 100Capital expenditureEurope 287,807 29 121,504 22North, Middle and South America 515,359 52 297,223 54Africa 41,701 4 21,648 4Middle-East / Asia / Australia 154,920 15 110,937 20Total capital expenditure 999,787 100 551,312 1002. Revenue The recognised revenue can be broken down into the following categories:2008 2007US$000US$000Lease & Operate 810,158 689,729Turnkey sales 2,250,118 2,181,485Revenue 3,060,276 2,871,214Minimum lease paymentsThe Company leases facilities under various agreements, which terminate between 2009 and 2023.A number of agreements include extension options. The nominal values of the future expectedbareboat receipts (minimum lease payments of leases) in respect of lease & operate contracts are:2008 2007US$ mlnUS$ mlnWithin 1 year 576 476Between 1 and 5 years 2,097 2,137After 5 years 1,583 1,248Total 4,256 3,861