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The Company Released Its Financial Results for 2022, Highlighting the Challenges in the Global Oil and Gas Sector. However, SBM Offshore Is Already Preparing the Chartering Schedule for Two FPSO Platforms for Projects in Brazil and Guyana.
Despite all the bottlenecks in the global oil and gas sector throughout 2022, SBM Offshore remains strong in the international market. The company recently announced that it achieved a record underlying EBITDA in 2022, around US$ 1 billion, and is already preparing for the year 2023. The chartering schedule for the FPSO platforms Sepetiba and Prosperity is expected to start production later in 2023, in projects in Brazil and Guyana, respectively.
Meet the FPSO Prosperity
Amid Operational and Logistical Bottlenecks, SBM Offshore Achieves Good Results in Oil and Gas Projects in 2022
The multinational offshore project company SBM Offshore recently released some of its key financial data for 2022, along with its schedule forecast for the current year.
Despite all the operational and logistical issues faced throughout the year, the company’s results were surprising last year.
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Lula reveals a masterstroke by Petrobras to undo a deal made by Bolsonaro, which involves the return of an important refinery that currently produces less than half of what was expected and makes Brazil dependent on international diesel.
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A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.
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Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.
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The rise in oil prices could ensure an extra revenue of R$ 100 billion for the Federal Government, indicates a recent economic study.
It achieved a record directional underlying EBITDA for 2022 of US$ 1 billion, as well as a backlog of US$ 30.5 billion over the entire period.
Despite SBM Offshore’s results, the FPSO platform company highlights that last year was marked by significant difficulties related to international logistics of oil and gas projects, resulting from the effects of the Covid-19 pandemic.
Bruno Chabas, CEO of SBM Offshore, stated: “2022 was a challenging year for SBM Offshore, but we achieved good performance. We reached a record level of underlying EBITDA, driven by our strong backlog, which also grew to a record level at the end of the year following the award of the FPSO One Guayana.”
Although China is undergoing a period of relaxation and commercial opening regarding cases of the disease, several other countries are experiencing increases in Covid-19 cases.
Thus, the company emphasizes that its oil and gas project teams are working closely with partner companies to maintain organization amid the sector’s bottlenecks.
SBM Offshore Announces Updates on the Chartering Schedule for Its FPSO Platforms, Expecting Major Projects in Brazil and Guyana
In addition to positive financial results and criticism of the current oil and gas scenario in the global market, SBM Offshore provided the press with updates on its projects schedule.
For 2023, the company has high expectations regarding the ventures that will utilize the FPSO platforms Sepetiba and Prosperity, in Brazil and Guyana, respectively.
Both are expected to commence production this year. The Sepetiba platform will be allocated to Petrobras’s Mero field in the Santos Basin, offshore Brazil.
It has a production capacity of up to 180,000 bpd and will be responsible for enhancing the exploration projects of the state-owned company in the country.
The FPSO Prosperity platform has safely departed from Singapore after commissioning and safety activities in the country.
The vessel has been chartered by a consortium of ExxonMobil, CNOOC, and Hess, and is headed to Guyana in the coming months.
Thus, SBM Offshore remains resilient in the global oil and gas market, with major projects involving its FPSO platforms in the upcoming periods.
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