SBM Offshore has received a letter of interim award from Shell for the supply, lease, and operation of a floating production, storage, and offloading vessel (FPSO) for the Fram field in the UK sector of the North Sea … blocks 29/3c, 298a (P012), 29/9c, and 29/4c (P1664).
SBM said the letter allows it to begin engineering and procurement of long lead items to ensure timely completion of the planned Fram FPSO project, which is subject to a final investment decision.
It said that the letter follows its enterprise framework agreement (EFA) concluded in March with Shell that covers a five-year term with an option to extend for another five years, to supply small and medium sized FPSOs globally on a lease and operate basis. The FRAM FPSO, subject to the final investment decision, will be the first project to be developed under the terms of the EFA.