SBM Offshore has signed a share purchase agreement to sell its entire equity interest in the lease and operating entities of the FPSO Aseng to GE Petrol, Equatorial Guinea’s national oil company.
“The sale is in line with SBM Offshore’s strategy to rationalise its lease and operate portfolio,” the company said in a statement on Thursday.
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The transaction will result in SBM Offshore’s full exit from Equatorial Guinea, following an operational transition period of up to 12 months.
The company said the divestment supports its continued focus on core assets and future-oriented energy projects. These include floating energy solutions and emissions-reduction initiatives.
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GE Petrol has not yet commented on the acquisition.
The deal is subject to several conditions precedent, including regulatory and contractual approvals. Financial terms have not been disclosed.
