SBM Extends FSO Lease Period with Total

6 July 2010 (Last Updated July 6th, 2010 18:30)

Offshore services company SBM Offshore NV has signed a lease extension contract with energy giant Total E&P Congo for an LPG floating storage and offloading vessel. The Dutch-based company said the initial extension for the Nkossa II will be for five years with options to exten

Offshore services company SBM Offshore NV has signed a lease extension contract with energy giant Total E&P Congo for an LPG floating storage and offloading vessel.

The Dutch-based company said the initial extension for the Nkossa II will be for five years with options to extend the lease for a maximum of ten years.

The current lease agreement for the vessel expires in November 2011.

The contract will be carried out through the joint venture company AP Moller-Maersk Group and SBM Offshore.

SBM also said the operating contract with Total for the FSO Unity, located on the Amenam field offshore Nigeria, has been extended by 12 months until 30 June 2011.