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SBM Offshore Sells Stake in FPSO Sepetiba Project to Mitsubishi and NYK

Written by Paulo Nogueira
Published on 13/12/2019 at 11:28
SBM Offshore FPSO Sepetiba Mitsubishi e NYK
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SBM Offshore Announces A Lease And Operation Agreement For The FPSO Sepetiba With Its Longtime Partners Mitsubishi Corporation And Nippon Yusen Kabushiki Kaisha

Following the announcement on December 11, 2019, regarding the signing of the FPSO Sepetiba contract, SBM Offshore is pleased to announce that it has entered into a shareholders’ agreement with its longtime business partners Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) regarding the sale of a 35.5% stake in the special purpose companies related to the lease and operation of the FPSO Sepetiba.

MC acquired 20% and NYK acquired 15.5% of the stake in the companies. SBM Offshore is the operator and majority shareholder with the remaining 64.5% shareholding.

The FPSO Sepetiba is currently under construction. The FPSO will be deployed in the Mero field, offshore in the Santos Basin, Brazil, 180 kilometers from Rio de Janeiro, under a lease and operation contract of 22.5 years with Petróleo Brasileiro S.A. (Petrobras). The delivery of the FPSO is expected in 2022.

The financial effects of this sale were anticipated in SBM Offshore’s guidance for the full year of 2019, provided in the Third Quarter Trading Update this year.

Corporate Profile

SBM Offshore is a market leader in floating production systems and has multiple units currently in operation.

The Group companies employ approximately 4,350 people worldwide, including about 650 contractors, who are spread across offices in key markets, operational support bases, and an offshore fleet. The Group companies employ an additional 400 people, working for joint ventures with two construction shipyards.

The companies in which SBM Offshore N.V. holds investments directly and indirectly are separate entities. In this communication, “SBM Offshore” is sometimes used for convenience, where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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