SBM Offshore Awarded Contracts for ExxonMobil Liza FPSO

December 20, 2016

SBM Offshore is pleased to announce that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited has awarded the Company contracts for a Floating Production, Storage and Offloading vessel (FPSO) for the Liza development and production in Guyana.

Under the FPSO contracts, SBM Offshore will perform Front End Engineering and Design for the FPSO, and, subject to a final investment decision on the project in 2017, will construct, install and operate the FPSO.

The Liza field has a potential resource estimate in excess of 1 billion oil-equivalent barrels and is located in the Stabroek block, which covers almost 27,000 square kilometres, approximately 193 kilometres offshore Guyana. Esso Exploration and Production Guyana Limited is the operator and holds a 45 percent interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30 percent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 percent interest.

SBM Offshore CEO Bruno Chabas commented:

"We are proud that ExxonMobil has awarded SBM Offshore contracts for the Liza FPSO, starting with the front-end engineering, which forms an important part of a significant offshore development project. Our dedicated  team is looking forward to cooperating closely with the ExxonMobil team to make this project a success. This award underlines the fact that experience matters across the entire FPSO life cycle."

To access the ExxonMobil press release, click here. 

Corporate Profile

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group ("the Company").

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle.  The Company is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field.  The Company's main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels.  These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.

As of December 31, 2015, Group companies employ approximately 7,000 people worldwide.  Full time company employees totaling 4,900 are spread over five regional centres, eleven operational shore bases and the offshore fleet of vessels.  A further 2,100 are working for the joint ventures with several construction yards.  Please visit our website at www.sbmoffshore.com.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities.  In this communication "SBM Offshore" is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

The Management Board
Amsterdam, the Netherlands, December 20, 2016

For further information, please contact:

Investor Relations
Bert-Jaap Dijkstra
Investor Relations Director

Media Relations
Vincent Kempkes
Head of Communications

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.  Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.  .  Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

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