SBM Inks Long-term FPSO Deal with Exxon

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SBM Offshore and ExxonMobil signed a Long-Term Agreement covering potential future floating production, storage and offloading unit (FPSO) orders. This agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work regarding potential future contracts relating to leased FPSOs, which includes Build-Operate-Transfer projects that generally cover a short lease term.

Over the years, SBM Offshore has supplied more than 10 floating systems to ExxonMobil in five countries, including five FPSOs, deep water offloading systems and an floating storage and offloading unit (FSO). The firms are also working together on multiple major projects are currently in various stages of progress.

Bruno Chabas, CEO of SBM Offshore, said, “We are very pleased with the long-term FPSO supply agreement with ExxonMobil. This agreement is a continuation of our long history of successful team work between our companies, further strengthening our long term cooperation.”

Séverine Baudic, Managing Director Floating Production Solutions of SBM Offshore, said, “This agreement aims at extending our constructive business relationship with ExxonMobil that has been created through delivering a series of major offshore projects together. We look forward to continue working together in the future and expanding our track-record of reliable execution on deep water projects.”

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