SBM Offshore, the Netherlands, has signed a formal contract with US-based independent energy company, Noble Energy, for the provision, lease and operation of an FPSO for the development of the Aseng field, offshore Equatorial Guinea.
SBM Offshore has entered into a joint venture with Compania Nacional de Petroleo de Guinea Ecuatorial (GEPetrol), the state oil company of Equatorial Guinea, for the ownership and operation of the Aseng unit. Under this agreement, SBM Offshore will own a 60 percent share of the joint venture with GEPetrol holding the remaining 40 percent.
In other news, SBM Offshore has received a notice of termination from Esso Deepwater for the lease and operate contract of the FPSO 'Falcon'.
The effective date of termination of the contract and redelivery of the FPSO 'Falcon' to SBM Offshore has been confirmed as December 3, 2009.
The vessel commenced operations in 2002 for an initial six-year lease which was subsequently extended twice.
