2008 Annual Report - SBM Offshore

SBM Offshore Annual Report 2008 / Report of the Board of Management39of 12 years at the Cachalote field offshore Brazil.Disconnection from the Golfinho field is plannedfor June 2009, followed by an upgrade of the unitin Singapore with first oil at the Cachalote field inFebruary 2010;• In January, start of operation of the FPSO Mondoin the Kizomba ‘C’ field offshore Angola under thefifteen year lease contract with Exxon Mobil;• In July, start of operation of the FPSO Saxi Batuquein the Kizomba ‘C’ field offshore Angola under thefifteen year lease contract with Exxon Mobil;• At the end of December, hook up of the FPSOEspirito Santo in the BC-10 field offshore Brazil underthe fifteen year lease contract with Shell. The leasecommenced on 1 January 2009.• In May, the FPSO Mystras, previously owned byFPSO Mystras Produção de Petroleo LTDA (FMPP),a 50% owned subsidiary of the Company, has beenpurchased by Agip Energy and Natural Resources(Nigeria) Ltd. (AENR);• In July, the FPSO Tantawan Explorer in Thailand hasbeen purchased by Chevron Offshore Thailand Ltd. atthe end of the lease and operate contract;• At the end of October, FPSO Rang Dong I in Vietnamhas been redelivered to the Company by JapanVietnam Petroleum Company Ltd. (JVPC) at theend of the confirmed lease period including a shortextension. The unit has been disconnected anddecommissioned and is currently laid up;• The FSO Okha has been redelivered to the Companyby Sakhalin Energy Investment Company Ltd.(SEIC) in December 2008, at the end of the leaseperiod. The FSO will be converted into a FPSOas replacement of the Cossack Pioneer FPSO forWoodside Energy Limited.Turnkey Supply and Services Activities• Completion of an external turret for an FSO forTanker Pacific Offshore Terminal Pte Ltd. (TPOT) foroperation in the Su Tu Vang field offshore Vietnam;• Delivery of a turret for the LPG FSO for the Belanakfield in Indonesia for ConocoPhillips;• Delivery of a deepwater CALM buoy for Total for theAkpo field development offshore Nigeria;• Mechanical completion of the Frade FPSO at DubaiDrydocks;• A contract was obtained from Petrobras for theturnkey supply and three years of operation of theP-57 FPSO to be installed on Jubarte field offshoreBrazil. The delivery of the unit in Brazil, ready forinstallation, is planned for end of 2010;• A contract was awarded by Woodside EnergyLimited and the Cossack Wanaea Lambert Hermes(CWLH) Joint Venture for the turnkey supply of theTransfer of a cargo from the FSO Okha into a shuttle tanker moored in tandem offshore the northern part of Sakhalin Island, Russia