Killajoules

SBM Offshore awarded Letters of Intent for two FPSO lease contracts by Petrobras
SBM Offshore is pleased to announce that it has received a Letter of Intent(LOI) for the twenty year charter and operation of two (2) FPSOs from BM-S-11 subsidiary Tupi BV on 22 March 2013.
The FPSOs will be deployed at the Lula field in the pre-salt province offshore Brazil. BM-S-11 block is under concession to a consortium comprised of PETROBRAS (65%), BG E&P Brasil Ltda. (25%), and Petrogal Brasil S.A.(10%).

Ivanhoe Energy and SBM Offshore Sign Alliance to Accelerate Development of Un-tapped Offshore Heavy Oil Resources
Ivanhoe Energy (TSX: IE) (NASDAQ: IVAN) and SBM Offshore (SBM) are pleased to announce they have formed a global strategic alliance (Alliance), combining their respective expertise to create Floating, Production, Upgrading, Storage and Offloading vessels (FPUSO's).

FRAM FPSO update
SBM Offshore confirms it has been notified by Shell, that in light of unexpected well results, they have decided to reassess the development plan for the Fram oil and gas field in the UK North Sea and not to continue with several key contracts associated with this development including the FPSO.

SBM Offshore and CompactGTL join forces to provide gas to liquids floating solutions
SBM Offshore, the leader in the supply of leased FPSOs, has signed a Commercial Development Agreement with CompactGTL Ltd, the pioneer of modular gas to liquid solutions, to work exclusively together on offshore projects. The use of GTL technology for floating production systems has the potential to significantly reduce gas flaring, by transforming associated gas into synthetic crude oil which can be blended in to the produced crude oil. The two companies have been working together since 2008 and this agreement opens the door for the world’s first, fully integrated, offshore modular GTL solution for the upstream industry.

SBM Offshore receives interim award for Fram FPSO from Shell
SBM Offshore has received a letter of interim award (LOIA) from Shell for the supply, lease and operation of a FPSO for the Fram field in the UK sector of the North Sea. The LOIA allows SBM Offshore to commence engineering and procurement of long lead items to ensure timely completion of the planned Fram FPSO project, which is subject to a Final Investment Decision.