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Vessel Will Remain Active in the Brazilian Pre-Salt Under SBM’s Operational Management, Even After Ownership Change
The industry giant SBM Offshore announced the sale of the FPSO Cidade de Paraty for US$ 400 million, but will maintain the operation of the ship for another 8.5 years. The sale and lease agreement was made with four Chinese leasing companies, ensuring the continuity of activities in the Lula Nordeste field, in the Brazilian pre-salt. The information was officially disclosed by the company on the SBM Offshore website and reported by outlets such as Hart Energy.
Ownership Transfer With Operations Preserved
The transaction involves the transfer of ownership of the FPSO (Floating Production, Storage, and Offloading unit) to Chinese companies specialized in maritime leasing, while SBM Offshore and its partners remain responsible for the platform’s operation. The vessel was controlled by a special purpose company, with 63.125% ownership by SBM and the remaining 36.875% held by other partners.
The sale does not alter the schedule or activities of the unit, which will continue to operate normally in the Santos Basin. According to SBM, the aim is to optimize capital use and promote new financing methods without compromising the efficiency of offshore operations in Brazil.
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First Leasing Contract of SBM Offshore
According to Douglas Wood, CFO of SBM Offshore, the contract marks a new moment in the company’s financial operations. “This is our first sale and leaseback transaction and highlights the strength of our full life cycle offering, combining operational expertise and innovative financial solutions,” he stated in an official note.
The operation demonstrates how the offshore sector has been seeking alternatives to maintain competitiveness, especially in high-strategic-value production areas like the Brazilian pre-salt. SBM emphasizes that it will continue to provide the same operation and maintenance services aboard the FPSO.
Production Capacity and History of the Unit
The FPSO Cidade de Paraty has been in operation since June 2013, positioned in the Lula Nordeste field, in the pre-salt area. The unit has a processing capacity of 120,000 barrels of oil per day, treatment of 5 million cubic meters of gas, and injection of 150,000 barrels of water per day, according to data from Hart Energy.
With high performance and a solid track record, the vessel is considered a key asset in Petrobras’s offshore production network, the main client of SBM in Brazil.
Strategic Business in the Global Offshore Market
The operation reinforces the global trend of strategic partnerships between operators and international financiers in the offshore sector, which seeks to balance profitability with long-term asset management. The sale-leaseback model is becoming increasingly attractive for companies that wish to focus on operations while maintaining liquidity for new investments.
SBM Offshore states that similar opportunities may arise in the coming years, expanding the company’s involvement in floating production projects around the world.
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