SBM Offshore News
Representatives from ABS and IMODCO Terminals SA, a division of SBM Offshore, met at Gastech 2024 where ABS issued approvals in principle (AIPs) for a range of jetty-less New Energy Terminal concepts to move frequent, large-volume ammonia transfers away from shore. IMODCO is applying a proven jetty-less system for moving crude oil to support the supply chain for new fuels such as ammonia. Mitigating ammonia leaks ABS reviewed the designs for IMODCO’s Catenary Anchor Leg Mooring (CALM) b...
SBM Offshore and Ocean-Power are pleased to announce the signing of a Memorandum of Understanding with the intent to collaborate on a floating power generation hub with CO2 capture and storage. The purpose of the partnership is to assess the technical feasibility and commercial readiness to collaborate on the concept, exclusive to the Norwegian Continental Shelf and United Kingdom Continental Shelf. Bi-directional transmission structure The offshore power hub will apply Ocean-Power’s...
The ABS-classed Liza Unity continues to collect industry firsts by receiving the first REMOTE-CON notation for an FPSO from ABS. The REMOTE-CON notation demonstrates the vessel’s alignment with remote-control functions and signifies that the design and construction of the offshore asset are assessed against and adhere to the ABS Requirements for Autonomous and Remote Control Functions. Liza Unity The Liza Unity is the second FPSO to be built for ExxonMobil Guyana’s Stabroek...
Classification society DNV acting as third party has issued a statement of qualified technology to SBM Offshore for its carbon capture plant or CO2 capture solution for FPSOs developed in partnership with MHI. The statement verifies that the designated technology is feasible for the intended application and that the technical claims are adequately substantiated. The statement is valid until 15 September 2027. This represents another milestone for SBM Offshore and Mitsubishi Heavy Industries (M...
FPSO Sepetiba, SBM Offshore’s third Fast4Ward® FPSO, sailed away on June 16, 2023, from the BOMESC shipyard, China, after the successful completion of the topsides integration and onshore commissioning phases. The FPSO has commenced its transit to the Mero field in the Santos Basin offshore Brazil, located 180 kilometres offshore of Rio de Janeiro. SBM Offshore has a contract with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba....
SBM Offshore inaugurated its newest office location in Porto, Portugal on October 11, 2022, during an event that recognised the important bridges being built between the company and the city. SBM’s Douglas Wood, CFO, Jordan Strik, Sustainability Director, and Rita Prates, Country General Manager welcomed representatives from the Porto City Hall, Councilor Mr. Ricardo Valente, the Porto Engineering University, the AICEP institutes, and local vendors and partners to the event. Quality educ...
SBM Offshore inaugurated its newest office location in Porto, Portugal on October 11, 2022, during an event that recognised the important bridges being built between the company and the city. SBM’s Douglas Wood, CFO, Jordan Strik, Sustainability Director, and Rita Prates, Country General Manager welcomed representatives from the Porto City Hall, Councilor Mr. Ricardo Valente, the Porto Engineering University, the AICEP institutes, and local vendors and partners to the event. Primacy...
SBM Offshore and Imodco are delighted to announce that the Imodco Ammonia CALM Terminal has been awarded Approval in Principle (AiP) by DNV. As part of the SBM Offshore Group, and based on more than 65 years of offshore Terminal expertise, IMODCO’s new Ammonia CALM Terminal is an exciting adaptation of existing market-renowned CALM technology to meet the new requirements of Ammonia. Green Ammonia Green Ammonia is an exciting solution within the new energy mix, but one which also p...
SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. Project loan The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan is in line with the duration of the...
On UN World Oceans Day, SBMers around the globe take the opportunity to reflect on the role that the oceans play in connecting, sustaining, and supporting. At SBM Offshore, the oceans are extremely important, as they are at the core of its business. Reef Balls project SBM Offshore is working hard to support SDG14, 'Life Below Water', by setting long-term targets to help protect the oceanic ecosystem. Among other initiatives, one example of the actions SBM takes is the Deep Panuke decom...
SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Construct, install, and operate Under these contracts, SBM Offshore will construct, install, and then lease and operate the ONE GUYANA FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL....
On March 30th, 2022, SBM Offshore launched its new floating wind energy solution, Float4WindTM. Float4WindTM is the second generation of SBM Offshore’s innovative offshore wind floater technology, a key aspect of the Company’s long-term strategy to support the energy transition. Tension Leg Platform (TLP) design The new and improved version of the Tension Leg Platform (TLP) design, a technology historically utilised in traditional oil & gas production, is ideal for harnessing...
Following the announcement on November 30, 2021, concerning the signature of the contracts for FPSO Alexandre de Gusmão, SBM Offshore is pleased to announce that it has entered into a shareholder agreement with its long-standing business partners Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK). Ownership interest MC and NYK have acquired a respective 25% and 20% ownership interest in the special purpose companies related to the lease and operation of the FPSO Al...
SBM Offshore’s Environmental, Social, and Governance (ESG) approach illustrates how SBM pursues a vision of safe, sustainable & affordable energy for generations to come. Sustainability The Company takes pride in its continuous improvement approach and applies knowledge gained from its performance in future target setting. This has also led to positive and improved ratings in sustainability benchmarks. Three world-class ESG-rating agencies- S&P Global, Sustainalytics, and...
Speaking at an industry event this morning in Belfast’s Titanic Hotel, the project director for the proposed 400MW North Channel Wind floating wind project Niamh Kenny said if it were to go ahead, the development could be a game changer for Northern Ireland. Floating wind turbines “We are investigating two sites in the North Channel halfway between Northern Ireland and Scotland for a series of new generation floating wind turbines,” Ms Kenny said. “The two sites would...
SBM Offshore is pleased to announce that FPSO Liza Unity has produced its first oil as of February 11, 2022, and is formally on hire. The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry-pioneering Fast4Ward® programme which incorporates the Company’s new build, multi-purpose floater hull combined with several standardised topside modules. Subsidiary of CNOOC Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum...
SBM Offshore is pleased to announce the proposed appointment of Øivind Tangen as Chief Operating Officer (COO) and member of its Management Board. Øivind Tangen (1973, Norwegian) has been working for the Company for 19 years and has a wealth of experience in engineering and operational roles, as well as in strategy and project execution. He is currently a Managing Director of the Company, responsible for SBM Offshore’s Lease and Operate segment, which includes the Company&rs...
SBM Offshore is pleased to announce that it has secured a US$620 million bridge loan facility for the financing of the construction of FPSO Alexandre de Gusmão. The FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil. Mero is a project under Libra Consortium responsibility, in which Petrobras is the operator with 40 percent and with the following partners: Shell Brasil with 20 percent, TotalEnergies with 20 percent, CNODC...
SBM Offshore is pleased to announce it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Alexandre de Gusmão. These contracts follow the signing of the binding Letter of Intent as announced on August 3, 2021. FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil, approximately 160 kilometres from Arraial do Cabo, Rio de Janeiro state. Fast4Ward® program Mero is a...
SBM Offshore is pleased to announce it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage, and Offloading vessel (FPSO) for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) to begin FEED activities and secure a Fast4Ward® hull. Construct, install, and lease FPSO Following FEED and subject to g...
SBM Offshore is pleased to announce that during the Annual General Meeting to be held on April 6, 2022 (AGM) it will be proposed to appoint Hilary Mercer as member of the Supervisory Board as per that date. In the interim, Hilary Mercer will act as an advisor to the Supervisory Board. Hilary Mercer Hilary Mercer is a Senior Vice President in Shell Chemicals and leads the Shell Polymers business, which includes its Pennsylvania Chemicals facility in the U.S. Hilary has over 34 years of experi...
SBM Offshore is pleased to announce it has completed the project financing of FPSO Sepetiba for a total of US$1.6 billion, which is the largest project financing in the Company’s history. Project financing The project financing was secured by a consortium of 13 international banks with insurance cover from Export Credit Agencies (ECA): Nippon Export and Investment Insurance (NEXI) and SACE S.p.A. A letter of intent was received from China Export & Credit Insurance Corpor...
The Liza Unity FPSO started its voyage to Guyana, having departed from the Keppel shipyard in Singapore. The FPSO is expected to arrive in Guyana in late 2021. Once the FPSO arrives at the Liza field in Guyanese waters, she will be hooked up to the seabed, which will then be followed by the installation of umbilicals and risers, allowing the next phase of operations to start. Liza Unity FPSO The Liza Unity FPSO has also been awarded the SUSTAIN-1 notation by ABS, the Classification Soci...
The hull for the Prosperity FPSO has arrived safely at the Keppel yard in Singapore. The next phase of construction will commence, with the topside modules being integrated into the yard. Drydock activities Despite the various challenges posed by the ongoing global pandemic, the unit remains on schedule to be completed in 2024. Drydock activities are scheduled to begin in the 4th quarter of this year, with the installation of major structures that will support the Mooring and...
SBM Offshore is pleased to announce that it has signed with Petróleo Brasileiro S.A. (Petrobras) the Letter of Intent for a 22.5-year lease and operation contracts of FPSO Alexandre de Gusmão. The unit will be deployed at the Mero field in the Santos Basin offshore Brazil, approximately 160 kilometres from Arraial do Cabo, Rio de Janeiro state, in Brazil. The Libra block, where the Mero field is located, is under a Production Sharing Agreement to a Consortium comprised of Petrobra...
SBM Offshore is pleased to announce that The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. The formal award will be subject to a Habitats Regulations Assessment (HRA), following which, the Llŷr project will progress with environmental assessments and surveys in line with the regulatory consent processes. Key UK markets The newly based joint venture be...
SBM Offshore is pleased to announce it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 26.25-year lease and operation of FPSO Almirante Tamandaré. These contracts follow the signing of the binding Letter of Intent as announced on February 25, 2021. FPSO Almirante Tamandaré FPSO Almirante Tamandaré will be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore of Rio de Janeiro in Brazil. SBM Offshore is...
SBM Offshore has reached a new milestone in its digital transformation program: ABS has issued New Technology Qualification (NTQ) to SBM Offshore’s artificial intelligence-powered Intelligent Agent Mooring Line Integrity Tool, allowing the technology to be integrated into offshore systems for the first time. This tool is built on SBM Offshore’s unrivalled mooring expertise and FPSO lifecycle management, combined with the advancement in machine learning capabilities. It enables the d...
SBM Offshore is pleased to announce it has completed the project financing of FPSO Prosperity for a total of US$1.05 billion. The project financing was secured by a consortium of 11 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan has a tenor of two years post-completion, in line with the du...
SBM Offshore is committed to playing a key role in supporting the energy transition by both investing in renewable energy solutions and innovating to develop cleaner forms of fossil energy. SBM is tackling this challenge through several initiatives, such as the emission ZERO™ program, and is delighted to share another great example of commitment; a current project with Carbon Collectors. Imodco’s CCS Tower Loading Unit This project, undertaken in conjunction with Imodco, par...