Monday, March 27, 2023

Dutch FPSO builder focusing efforts on Guyana, Brazil markets

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Guyana and Brazil remain key to Dutch floater specialist, SBM Offshore.

The company in its 2022 Annual Report outlined that it is taking a “disciplined and selective” approach to market opportunities, focusing on the main floating, production, storage and offloading (FPSO) vessel markets in the South American oil producing nations.

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Both markets, according to SBM Offshore, provide “double resiliency” – relatively low break-even prices and low greenhouse gas emission intensity.

Of the two countries, Brazil takes up the lion’s share of SBM’s fleet portfolio, with nine vessels.

Dutch company advancing construction of Brazil high-capacity floaters

Six of those vessels are already built and operating, while three – FPSO Alexandre de Gusmão; FPSO Sepetiba and the FPSO Almirante Tamandaré are under construction.

SBM Offshore has so far been tasked with delivering all of the production vessels for approved projects in Guyana – four to date. 

The company said it is also looking to develop business in other adjacent regions. Neighbouring Suriname and Barbados are looking to start up offshore oil and gas production.

Whose is bigger? Brazil, Guyana will host world’s largest floating oil production vessels

Looking ahead, SBM Offshore anticipates that around 35 FPSO projects could reach final investment decisions between this year and 2025.

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