SBM Offshore has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the Thunder Hawk DeepDraft(TM) Semi located in 6,060 feet of water in the Gulf of Mexico (GoM).

Production fees associated with produced volumes are estimated to lead up to projected revenue of US$400 million to be delivered over the ten year primary contract period. First oil from Big Bend and Dantzler are expected in late 2015 and first quarter 2016 respectively. At these levels both fields will utilize a maximum of 85% of total daily asset capacity, and brownfield construction to upgrade the facility will be handled by Noble Energy.

Tags: SBM Offshore N.V.