Aseng FPSO Contract Award and Joint Venture Agreement with GEPetrol

abarrelfullabarrelfull wrote on 27 Apr 2013 09:47

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21 October 2009

Further to a previous announcement dated 26 August 2009, SBM Offshore now advises that the formal contract has been signed with Noble Energy EG Ltd., a subsidiary of leading US-based independent energy company Noble Energy Inc., 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% share of the joint venture with GEPetrol holding the remaining 40%.

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