SBM Offshore is pleased to announce it has been awarded a contract by the Ichthys LNG Project for the engineering, procurement, fabrication and supply of a Turret and Mooring system. This system will be integrated by the client into the Ichthys FPSO and installed offshore NW Australia The contract also includes assistance during the integration of the Turret into the FPSO as well as during installation on the field offshore. The value of this order is around US$ 0.5 billion. Large complex turret mooring systems for new-build FPSOs are one of the core products of the Company.

Installation of the Turret and Mooring system in the field is anticipated in mid 2015.

The Ichthys LNG Project's FPSO, a new build 335 meter-long vessel, will be moored in water depths of 250 metres and located in the Browse Basin off the north-west coast of Western Australia 820 kilometres south-west of Darwin.

Approximate dimensions of the Turret: diameter 20 meters; height 65 metres and weight 7,000 tons.

The Turret can accommodate up to 15 risers and will be designed for 40 years of operation without being disconnected.

The Ichthys LNG Project is a joint venture between INPEX (76%, the operator) and Total (24%). Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometres offshore of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889 kilometre subsea pipeline. The Ichthys Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 80,000 barrels of condensate per day at peak.