FPSO Turritella Producing, On Hire

SBM Offshore stated that FPSO Turritella is formally on hire as of September 2, 2016 after achieving Commencement of Commercial Production (CoCP).  The CoCP certificate was issued on September 8, 2016.
 
The vessel is installed in Shell's Stones development located in 2,896 meters (9,500 feet) of water approximately 320 kilometers (200 miles) offshore Louisiana in the Walker Ridge area. The lease and operate contracts include an initial period of 10 years with future extension options up to a total of 20 years.
 
The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha in which SBM Offshore's shareholding is 55 percent.