SBM Offshore has signed contracts with Shell Offshore to supply and lease an Floating Production Storage and Offloading (FPSO) for the Stones development project in the Gulf of Mexico.
The contracts include an initial period of 10 years with future extension options up to a total of 20 years. The Stones development is located in 2,896 metres of water approximately 320 kilometres offshore Louisiana in the Walker Ridge area.
When installed, the Stones FPSO will be the deepest FPSO development in the world.
The converted Suezmax FPSO will have a turret with a disconnectable buoy (Buoyant Turret Mooring or BTM) allowing it to weathervane in normal conditions and disconnect from the FPSO upon the approach of a hurricane.
The total asset value of the FPSO is approximately USD1.0 billion.
