SBM Offshore and Constellation complete minority ownership transaction

Must Read

First Guyanese security firm attains ISO certification, looking to tap into O&G opportunities

Through the assistance of the Center for Local Business Development (CLBD), another Guyanese firm - MMC Security...

Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname...

Liza 1 & 2 ‘will provide low cost energy for years to come’ – Hess CEO

Even as governments and international oil companies pursue efforts to reduce carbon emissions on a global scale...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

SBM Offshore and Constellation Oil Services Holding S.A. said on Friday they have successfully completed the transaction regarding the sale to SBM Offshore of Constellation’s equity ownership in the lease and operating companies related to five Brazilian FPSOs.

This follows the announcement by SBM Offshore on October 18, 2019, confirming the Dutch floater specialist as the successful bidder in the public auction for the equity ownership.

SBM Offshore was already the majority shareholder of the related entities and operator of these FPSOs before the transaction was completed.

Upon completion of the transaction SBM Offshore paid the total cash consideration of US$149 million.

The completion concludes a successful long-term partnership between the companies which was established in 2004.

- Advertisement -

Latest News

Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname...

First Guyanese security firm attains ISO certification, looking to tap into O&G opportunities

Through the assistance of the Center for Local Business Development (CLBD), another Guyanese firm - MMC Security Force Company - has been...

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

Liza 1 & 2 ‘will provide low cost energy for years to come’ – Hess CEO

Even as governments and international oil companies pursue efforts to reduce carbon emissions on a global scale in the move towards renewable...

Bharrat outlines more measures for managing Guyana oil resources

Guyana’s Minister of Natural Resources, Vickram Bharrat, has outlined a number of new policy directions for the extractive sectors including oil and...

More Articles Like This