SBM MALAYSIA WINS US$1.2 BLN CONTRACT

KUALA LUMPUR, Sept 15 (Bernama) -- Oil and gas services company SBM Malaysia
Sdn Bhd has won a contract worth US$1.2 billion to supply a floating production
storage and offloading (FPSO) vessel.

The contract was awarded by its holding company, Amsterdam-listed SBM
offshore on behalf of U.S. listed Noble Energy Inc, which is developing offshore
oil and gas projects in Block one of the Aseng field in Equatorial Guinea, which
is located in Central Africa.

SBM Offshore's Southeast Asia Director, Ivan Replumaz, said SBM Malaysia
will perform engineering, procurement and project management service for the
project, which is expected to start operations in 2012.

The FPSO Aseng will be capable of processing 80,000 barrels of oil per
day and will have water and gas injection capabilities, Replumaz told a media
briefing, here Tuesday.

Asked on the benefit of the FPSO Aseng project, he said it will enable SBM
Malaysia to employ more than 200 Malaysians at peak mainly engineers and
designers.

Currently, he said, the SBM Malaysia's workforce stood at more than 300
people, of which 90 percent were Malaysians.

SBM Malaysia is also bidding for a few projects in Indonesia, Vietnam,
Malaysia, Brazil, the United States and Angola.

The company's product range covers floating production, storage and
offloading systems (FPSO), Floating Storage Offloading (FSO) systems and all
types of Mooring Systems (shallow to very deepwater).

All products are either sold or leased, depending on client requirements.
-- BERNAMA