SBM Offshore

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    Update on Lease and Operate backlog

    December 23, 2020

    SBM Offshore reports a contractual lease extension for FPSO Espirito Santo in Brazil and expects a potential increase in the lease duration for FPSOs in Guyana. SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full Year 2020 Earnings.

    SBM Offshore signed an agreement with its client Shell for a five years’ extension for the lease and operate contracts of the FPSO Espirito Santo located in Brazil. The end of the contractual lease and operate period was extended from December 2023 to December 2028. SBM Offshore is the majority owner of the lease and operating companies related to FPSO Espirito Santo with 51% equity ownership, together with MISC Berhad with 49% equity ownership.

    ExxonMobil affiliate Esso Exploration and Production Guyana Limited, has also initiated discussions with SBM Offshore about potentially extending the lease and operate durations for FPSOs in Guyana.

     

    Corporate Profile

    The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.

    As of December 31, 2019, the Company employs approximately 4,450 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.

    SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.

    Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.

    For further information, please visit our website at www.sbmoffshore.com.

     

    The Management Board
    Amsterdam, the Netherlands, December 23, 2020

     

    Financial Calendar Date Year
    Full Year 2020 Earnings – Press Release February 11 2021
    Annual General Meeting of Shareholders April 7 2021
    Trading Update 1Q 2021 – Press Release May 12 2021
    Half Year 2021 Earnings – Press Release August 5 2021
    Trading Update 3Q 2021 – Press Release November 11 2021

     

    For further information, please contact:

    Investor Relations

    Bert-Jaap Dijkstra
    Group Treasurer and IR

    Telephone: +31 (0) 20 236 3222
    Mobile: +31 (0) 6 21 14 10 17
    E-mail: Bert-Jaap Dijkstra
    Website: www.sbmoffshore.com

     

    Media Relations

    Vincent Kempkes
    Group Communications Director

    Telephone: +31 (0) 20 236 3170
    Mobile: +31 (0) 6 25 68 71 67
    E-mail: Vincent Kempkes
    Website: www.sbmoffshore.com

     

    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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    Disclaimer

    The information to which this gatepost gives access is exclusively intended for persons who are not residents of the United States, Canada, Australia or Japan and who are not physically present in the United States, Canada, Australia or Japan. This information does not constitute an offer, or an invitation to purchase, securities of SBM Offshore N.V. in the United States, Canada, Australia, Japan or in any other jurisdiction in which such offer or invitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation. Potential users of this information are requested to inform themselves about and to observe any such restrictions.

    SBM Offshore N.V.'s securities cannot be offered or sold in the United States without registration under the United States Securities Act of 1933, as amended, or pursuant to an exemption from such registration. SBM Offshore N.V. has not registered, and does not intend to register, any of its securities under the Securities Act or to conduct a public offering of securities in the United States.


    Forward-looking statements

    The information to which this gatepost gives access includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements are based on SBM Offshore N.V.'s beliefs and projections and on information currently available to SBM Offshore N.V.. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond SBM Offshore N.V.'s control and all of which are based on SBM Offshore N.V.'s current beliefs and expectations about future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "plans", "assumes", "anticipates", "annualised", "goal", "target" or "aim" or the negative thereof or other variations thereof or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. SBM Offshore N.V. undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

    By proceeding to view the materials to which this gatepost gives access, you warrant that you are not located in the United States, Canada, Australia or Japan and you agree that you will not transmit or otherwise send any information contained in this website to any person in the United States, Canada, Australia or Japan or to publications with a general circulation in the United States, Canada, Australia or Japan.

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