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SBM Offshore - FRAM FPSO update



2013-02-21 18:41:40 -


SBM Offshore confirms it has been notified by Shell, that in light of unexpected
well results, they have decided to reassess the development plan for the Fram
oil and gas field in the UK North Sea and not to continue with several key
contracts associated with this development including the FPSO.

SBM Offshore has been working on an FPSO solution for this field under a letter
of interim award (LoIA) announced on 15 June 2012. As the project was awaiting
contract finalisation, it had not been included in SBM Offshore's project
portfolio and backlog as published on 14 February 2013.

For further information, please contact:

Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer

Telephone: (+377) 92 05 85 15

Mobile: (+33) 643 919 312

E-mail: sebastiaan.derondebresser@sbmoffshore.com

Website: www.sbmoffshore.com


Media Relations
Anne Guerin-Moens
Group Communications Director

Telephone: (+377) 92 05 30 83

Mobile: (+377) 680 863 691

E-mail: anne.guerin-moens@sbmoffshore.com

Website: www.sbmoffshore.com


To see the full version of this press release please click on the link below:


SBM Offshore Press Release:
hugin.info/130754/R/1680250/548950.pdf



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Source: SBM Offshore N.V. via Thomson Reuters ONE
[HUG#1680250]


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