SBM Offshore N.V.: SBM OFFSHORE STARTS OIL PRODUCTION ON FPSO CIDADE DE PARATY FOR PRE-SALT FIELD LULA NORDESTE

FPSO Cidade de Paraty on hire

SBM Offshore is pleased to announce FPSO Cidade de Paraty is formally on hire since 7 June 2013, following full systems acceptance by our client and continues to ramp up oil production.

The facility has been constructed in 34 months from Letter of Intent in June 2010, in line with expectations and meets the local content requirements for Brazilian FPSOs. The FPSO will operate under twenty year charter and operate contract on the Lula Nordeste development in the pre-salt area, offshore Brazil.

The Lula field is located in block BM-S-11 in the Santos basin at approximately 300 kilometres offshore and 2,100 metres water depth. FPSO Cidade de Paraty is a new generation 3 FPSO and has installed topside facilities with a weight of around 14,000 tons to process 120,000 bpd of oil, associated gas treatment for 5,000,000 Sm³/d with compression and carbon dioxide removal and a water injection facility for 150,000 bpd.

The unit is owned and operated by a consortium of affiliated companies of SBM Offshore, QGOG, Nippon Yusen Kabushiki Kaisha (NYK), and ITOCHU Corporation (ITOCHU).

The Board of Management                                                                   
Schiedam, 11 June 2013

For further information, please contact:

Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer

Telephone:	([phone]
Mobile:	([phone]
E-mail:	[e-mail] (mailto:[e-mail])Â
Website:	www.sbmoffshore.com (http://www.sbmoffshore.com/)

Media Relations
Anne Guerin-Moens
Group Communications Director

Telephone:	([phone]
Mobile:	([phone]
E-mail:	[e-mail] (mailto:[e-mail])Â
Website:	www.sbmoffshore.com (http://www.sbmoffshore.com/)

SBM Offshore Press Release 11 June 2013 (http://hugin.info/130754/R/1708470/566059.pdf)

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

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