SBM Offshore has executed a letter of intent (LOI) with a subsidiary of OSX Brasil in order to start project activities, including early engineering and procurement up to US$25 million, relating to the future conversion, supply and installation of a floating production, storage and offloading vessel to OSX.
The full engineering, procurement, construction and installation (EPCI) contract for 'FPSO OSX-2' is expected to be executed within a month.
'FPSO OSX-2' will be chartered by OSX to its customer OGX Petróleo e Gás, also a company of the EBX Group, and will be deployed on oil fields in the Campos basin offshore Brazil. First oil is targeted by the third quarter 2013.
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