SBM OFFSHORE Receives Contracts Extensions From Total for Operations in Africa

SBM Offshore N.V.  announces 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.

The Dutch public company SBM Offshore N.V. is the holding company of a group of international, marine technology orientated companies. Its business is to serve on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.

The product line comprises:

• Offshore import/export terminals for crude oil, refined products, LPG and LNG, mostly based on the single point mooring principle, Floating Production and/or Storage and Offloading systems (FSOs and FPSOs) and other floating production facilities based on ship hulls, semi-submersibles and Tension Leg Platforms (TLPs);

• Offshore oil and gas production services through the leasing of integrated production and storage facilities owned and operated by the Company;

• Design, construction and supply of semi-submersible drilling platforms;

• Special designs and engineering services and delivery of specific hardware components for dynamically positioned drillships, semi-submersible drilling platforms, jack-up drilling platforms, jack-up platforms for civil construction, large capacity offshore cranes, elevating and lifting systems, crane vessels and other specialised work vessels;

• Offshore construction and installation contracting services.

[mappress]

Source: Sbmoffshore,July 2, 2010;