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COMPANY PROFILE · FPSO

SBM Offshore

Full-lifecycle FPSO engineering, asset ownership, chartering and operations

Company Overview

SBM Offshore N.V. is headquartered in Schiphol, the Netherlands, and specializes in FPSOs and deepwater ocean infrastructure. Its activities span design, construction, installation, asset ownership, chartering, operations, maintenance and life extension. Its corporate heritage includes Single Buoy Moorings, founded in 1969.

As of June 2026, SBM Offshore operated a fleet of 16 units with average daily production above two million barrels of oil equivalent. Its global team numbered more than 8,000 professionals.

Business Models and Core Capabilities

FPSO EPCI / EPCIOLease & OperateSale & OperateOperations & MaintenanceFast4WardInstallation & Life Extension

Under Lease & Operate, SBM Offshore constructs, charters and operates the asset. Under Sale & Operate, it constructs and sells the FPSO under an EPC contract and then continues service under a separate operations and maintenance agreement. Fast4Ward combines standardized newbuild MPF hulls, modular topsides and early supply-chain engagement to support repeatable execution. Thirteen Fast4Ward hulls had been ordered by June 2026.

Representative Global Project Portfolio

Representative projects outside Guyana show operating assets, Sale & Operate execution and the latest two-FPSO award. Individual vessel pages are not created without a substantive development profile.

Project FPSO Region / Status SBM Offshore Model Term or Milestone
Mero 2 Sepetiba Brazil / Operating Design and construction, installation, long-term charter and operations Production started in December 2023
Mero 4 Alexandre de Gusmão Brazil / Operating Design and construction, installation, long-term charter and operations First oil in May 2025
Búzios 7 Almirante Tamandaré Brazil / Operating Fast4Ward, lease and operations 26.25 years; first oil in February 2025
GranMorgu GranMorgu FPSO Suriname / Under construction Sale & Operate followed by O&M 220,000 bpd; delivery targeted for 2028; at least two years of O&M after first oil
SEAP-II FPSO SEAP II (P-87) Brazil / Engineering and procurement Sale & Operate; initial 6.5-year O&M term 120,000 bpd; delivery planned for 2030
SEAP-I FPSO SEAP I (P-81) Brazil / Engineering and procurement Sale & Operate; initial 6.5-year O&M term 120,000 bpd; delivery planned for 2031

Guyana Project Portfolio

Each of the five sanctioned developments retains its own project page. Longtail remains at an early stage and is shown separately from producing and construction projects.

Development FPSO Milestone Contract and current operations Hull, modules and integration Subsea
Liza Phase 1 Liza Destiny First oil: Dec 2019
In production		 Sold to ExxonMobil Guyana in 2024
SBM O&M through 2033		 SBM Offshore: overall FPSO delivery
Seatrium (legacy Keppel O&M): VLCC conversion and integration		 Saipem
SURF EPCI
Liza Phase 2 Liza Unity First oil: Feb 2022
In production		 Sold to ExxonMobil Guyana in 2023
SBM O&M through 2033		 Shanghai Waigaoqiao Shipbuilding: Fast4Ward MPF hull
Seatrium (legacy Keppel O&M): modules and integration		 Saipem: SURF EPCI
TechnipFMC: subsea production system
Payara Prosperity First oil: Nov 2023
In production		 Sold to ExxonMobil Guyana in 2024
SBM O&M through 2033		 Shanghai Waigaoqiao Shipbuilding: MPF 3 hull
Dyna-Mac / Seatrium (legacy Keppel O&M): modules and integration		 Saipem
Subsea EPCI and local jumper fabrication in Guyana
Yellowtail ONE GUYANA First oil: Aug 2025
In production		 Sold to ExxonMobil Guyana in 2026
SBM O&M through 2035		 Shanghai Waigaoqiao Shipbuilding: MPF 3 hull
SBM Offshore / McDermott: joint EPC execution
QMW: three topsides modules
Seatrium: modules, integration and commissioning support		 Subsea production system in operation
Whiptail Jaguar Under construction
First oil targeted for 2027		 Sale & Operate
Ownership transfer before installation		 Shanghai Waigaoqiao Shipbuilding: MPF 5 hull
SBM Offshore: Fast4Ward overall delivery
Seatrium: modules and integration		 Subsea production system in execution
Longtail Proposed Fast4Ward FPSO FEED and early procurement
Subject to approvals and FID		 SBM Offshore holds FEED and conditional follow-on scope SBM Offshore: front-end engineering Saipem: limited notice to proceed for SURF

Related projects and roles

  • Oil and gas development · Suriname

    GranMorgu

    Suriname's first large-scale offshore oil and gas development, centered on a newbuild FPSO.

    EPCI contractor

    SBM Offshore and Technip Energies are jointly responsible for construction and installation of the GranMorgu FPSO, which uses SBM Offshore's eighth Fast4Ward MPF hull.

    Scope
    Offshore facilities and operations
    Relationship start
    14 Nov 2024
    Shipowner / lessor

    SBM Offshore provides operational readiness before first oil and at least two years of operations and maintenance after first oil, with extension options.

    Scope
    Offshore facilities and operations
    Relationship start
    19 Jun 2025

  • Oil and gas development · Guyana

    Yellowtail

    The fourth Stabroek development, producing through the ONE GUYANA FPSO.

    EPCI contractor

    Construction and installation of the ONE GUYANA FPSO, together with up to two years of initial lease and operations services.

    Scope
    Offshore facilities and operations
    Relationship start
    5 Apr 2022
    Shipowner / lessor

    Continued operations and maintenance under an integrated model after the FPSO sale, extending to 2035.

    Scope
    Offshore facilities and operations
    Relationship start
    8 Aug 2025

  • Oil and gas development · Guyana

    Whiptail

    The sixth Stabroek development, centered on the Fast4Ward FPSO Jaguar now under construction.

    EPCI contractor

    Construction and installation of the Jaguar FPSO under the Sale and Operate model.

    Scope
    Offshore facilities and operations
    Relationship start
    12 Apr 2024
    Shipowner / lessor

    Planned operation of the FPSO for approximately 10 years after start-up under the operations and maintenance framework.

    Scope
    Offshore facilities and operations
    Relationship start
    12 Apr 2024

  • Oil and gas development · Brazil

    Búzios

    A major pre-salt field in Brazil's Santos Basin, developed in phases through 12 FPSO systems, with eight in production.

    Shipowner / lessor

    Design, construction and installation of FPSO Almirante Tamandaré, followed by a 26.25-year lease and operations contract.

    Scope
    Offshore facilities and operations
    Relationship start
    25 Feb 2021

  • Oil and gas development · Brazil

    Mero

    A phased ultra-deepwater pre-salt development in Brazil's Santos Basin, comprising an early production system and four full-scale FPSO systems from Mero 1 to Mero 4.

    Shipowner / lessor

    Design, construction, installation, long-term lease and operations services for FPSO Sepetiba and FPSO Alexandre de Gusmão, serving Mero 2 and Mero 4.

    Scope
    Offshore facilities and operations
    Relationship start
    11 Dec 2019

  • Oil and gas development · Guyana

    Liza Phase 1

    The first offshore development in the Stabroek Block, producing through the Liza Destiny FPSO.

    EPCI contractor

    Conversion, delivery and initial lease-and-operate scope for FPSO Liza Destiny.

    Scope
    Offshore facilities and operations
    Shipowner / lessor

    Operations and maintenance of FPSO Liza Destiny under the integrated model through 2033.

    Scope
    Offshore facilities and operations
    Relationship start
    2 May 2023

  • Oil and gas development · Guyana

    Liza Phase 2

    The second Stabroek development, producing through Liza Unity, the first Fast4Ward FPSO.

    EPCI contractor

    Engineering, procurement, construction and installation of FPSO Liza Unity, followed by initial lease-and-operate services.

    Scope
    Offshore facilities and operations
    Shipowner / lessor

    Operations and maintenance of FPSO Liza Unity under the integrated model through 2033.

    Scope
    Offshore facilities and operations
    Relationship start
    2 May 2023

  • Oil and gas development · Guyana

    Payara

    The third Stabroek development, producing through the Fast4Ward FPSO Prosperity.

    EPCI contractor

    Engineering, procurement, construction and installation of FPSO Prosperity, followed by initial lease-and-operate services.

    Scope
    Offshore facilities and operations
    Shipowner / lessor

    Operations and maintenance of FPSO Prosperity under the integrated model through 2033.

    Scope
    Offshore facilities and operations
    Relationship start
    2 May 2023