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January 13, 2016

SBM Offshore is pleased to announce that Premier Oil plc (Premier) has awarded
the Company the Front-End Engineering and Design (FEED) contract for an FPSO
for Phase 1 of its Sea Lion development in the North Falkland Basin.

The 18-month contract awarded to SBM Offshore covers the FEED elements of the
proposed FPSO. The asset will be a converted FPSO with a throughput capacity
of approximately 85,000 barrels per day and will operate in 450 meters of

The proposed Phase 1 Sea Lion project, operated by Premier with Rockhopper
Exploration plc as the JV partner, is located 220 kilometers north of the
Falkland Islands. This first phase is subject to final investment decision
targeted for the end of the FEED in the second half of 2017. Subsequent
phases to developing Sea Lion and the wider North Falkland Basin reserves,
utilizing FPSOs, are envisaged.

Corporate Profile

SBM Offshore N.V. (the "Company") is a listed holding company that is
headquartered in Amsterdam. It holds direct and indirect interests in other
companies that collectively with SBM Offshore N.V. form the SBM Offshore
group (the "Group").

SBM Offshore provides floating production solutions to the offshore energy
industry, over the full product life-cycle. SBM Offshore is market leading
in leased floating production systems with multiple units currently in
operation and has unrivalled operational experience in this field. The
Group's main activities are the design, supply, installation, operation and
the life extension of Floating Production, Storage and Offloading (FPSO)
vessels. These are either owned and operated by SBM Offshore and leased to
its clients or supplied on a turnkey sale basis.

Group companies employ over 9,000 people worldwide. Full time Group employees
totalling 5,700 are spread over four regional centres, eleven operational
shore bases and the offshore fleet of vessels. A further 3,300 are working
for the joint ventures with several construction yards. Please visit our
website at

The companies in which SBM Offshore N.V. directly and indirectly owns
investments are separate entities. In this communication "SBM Offshore" is
sometimes used for convenience where references are made to SBM Offshore N.V.
and its subsidiaries in general, or where no useful purpose is served by
identifying the particular company or companies concerned.

The Management Board
Amsterdam, The Netherlands, January 13, 2016

For further information, please contact:

Investor Relations

Nicolas D. Robert
Head of Investor Relations

| Telephone: +377 92 05 18 98 |
| Mobile: +33 (0) 6 40 62 44 79 |
| E-mail: |
| Website: |
Media Relations

Anne Guerin-Moens
Group Communications Director

| Telephone: +377 92 05 30 83 |
| Mobile: +33 (0) 6 80 86 36 91 |
| E-mail: |
| Website: |

Some of the statements contained in this release that are not historical facts
are statements of future expectations and other forward-looking statements
based on management's current views and assumptions and involve known and
unknown risks and uncertainties that could cause actual results, performance,
or events to differ materially from those in such statements. Such
forward-looking statements are subject to various risks and uncertainties,
which may cause actual results and performance of the Company's business to
differ materially and adversely from the forward-looking statements. Certain
such forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "may", "will", "should",
"would be", "expects" or "anticipates" or similar expressions, or the
negative thereof, or other variations thereof, or comparable terminology, or
by discussions of strategy, plans, or intentions. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in this
release as anticipated, believed, or expected. SBM Offshore NV does not
intend, and does not assume any obligation, to update any industry
information or forward-looking statements set forth in this release to
reflect subsequent events or circumstances.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SBM Offshore N.V. via Globenewswire


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