Presentation

SBM Offshore was founded in 1965 and entered the FPSO industry in 1976 as one of the first companies in the world. The company is today one of the largest FPSO lease providers worldwide. The main activities comprise the design, supply, installation, operation and life extension of FPSOs, in addition to other floating production concepts (FPUs). The company is headquartered in Amsterdam, Netherlands and is listed on the Euronext Amsterdam.

SBM Offshore owns and operates a fleet of 14 FPSOs, one semi-submersible and one MOPU (under decommissioning) through its Lease & Operate division. In addition, the company provides full turnkey services, as well as installation services. The leased units are contracted on long-term charters to oil companies worldwide, with core areas being West Africa and Brazil. As of Q2’20, the pro forma backlog was USD 19.7bn. The average contract duration of the firm backlog is 8.1 years with options for extension. Six FPSOs are on long-term charters with Petrobras beyond 2030. SBM Offshore has launched an ambition of achieving 25% of its revenues from gas and renewables by 2030. Currently, the company is prioritizing floating wind and wave, but it is also looking into tidal energy, ocean thermal conversion and energy storage.