SCHIEDAM, NETHERLANDS--(Marketwire - Sep 17, 2012) -

FPSO CIDADE DE ANCHIETA ON HIRE

SBM Offshore is pleased to announce that oil production on FPSO Cidade de Anchieta has commenced and the unit is officially on hire as of 10 September 2012, under the 18 year lease and operate contract with Petrobras.

The FPSO Cidade de Anchieta is designed for pre-salt production of the Baleia Azul, Jubarte and Pirambu fields in the area known as Parque das Baleias, off the coast of the state of Espirito Santo in the Campos Basin, Brazil.

The lease and operate contract was signed in December 2009, for a substantial upgrade of the FPSO and relocation to the nearby Baleia Azul field. The FPSO was disconnected and towed to Singapore for refurbishment and upgrade works on the topsides facilities in April 2011. The process facility was upgraded with new modules for gas treatment, water injection, gas turbine generators and flare drums to meet the new field production characteristics. On completion, the FPSO was towed back to Brazil in the summer of 2012 with first oil production on 10 September 2012.

The FPSO has the capacity to process 100,000 barrels of oil and 3.5 million m(3) of gas per day. The platform is installed at a water depth of 1,221 meters, 80 km off the coast. The produced natural gas will be pumped through the Sul- Norte Capixaba pipeline to the Natural Gas Treatment unit in Cacimbas, on the coast of Espirito Santo.

Bruno Chabas CEO of SBM Offshore commented: "We are very pleased with the successful start of production on FPSO Cidade de Anchieta for Petrobras as the project has achieved the objectives of minimizing stand-by time during the relocation process of a year and half. This substantial investment associated with a major upgrade of the processing equipment of such a complex facility illustrates the bespoke nature of FPSOs and is an excellent example of our leading position in the market".

To see the complete version of this Press Release, please click on the link below.

SBM Offshore Press Release: http://hugin.info/130754/R/1641533/528661.pdf

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Source: SBM Offshore N.V. via Thomson Reuters ONE

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