SBM Offshore has ordered the seventh hull under its Fast4Ward® program, advancing its strategy of building standardized floating production, storage and offloading (FPSO) units for future developments.
The company announced on June 29 that it signed a contract with Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) and China Shipbuilding Trading Co., Ltd. (CSTC), subsidiaries of China State Shipbuilding Corporation Limited (CSSC), to construct the seventh generic Fast4Ward multi-purpose floater (MPF7).
The MPF7 will use SBM Offshore’s proprietary Fast4Ward® standard hull design, with storage capacity of up to 2.3 million barrels of crude oil. It is designed to operate in a wide range of offshore environments and will accommodate up to 240 personnel while meeting international offshore standards.
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SBM Offshore said the hull incorporates improvements in environmental protection, safety and crew accommodation while meeting international offshore standards, with Chief Executive Officer Øivind Tangen saying the latest order demonstrates continued strong demand in the offshore market.
“This contract award reflects the robust market outlook and demonstrates how SBM leverages standardization and strategic partnerships for strong competitive positioning. This is the 13th MPF hull ordered to date, with each project providing lessons to further derisk the execution, with improving quality and productivity,” Tangen said.
SWS Chairman Chen Gang said the project strengthens the long-standing partnership between the two companies.
“As this represents our 7th FPSO hull project for SBM, our team is fully committed to leveraging our premier shipbuilding capabilities and lean management principles to deliver this vessel with the highest quality, safety, and environmental standards, continuing to create long-term value for both organizations,” he said.
SBM Offshore’s Fast4Ward® program has played a major role in the rapid development of ExxonMobil Guyana’s projects in the Stabroek Block. The standardized approach, first used for the Liza Unity FPSO, was later applied to the Prosperity and ONE GUYANA FPSOs, reducing delivery times and streamlining project execution.
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SBM Offshore is also constructing the Jaguar FPSO for ExxonMobil’s Whiptail development, with first oil targeted for 2027. ExxonMobil serves as operator of the Stabroek Block with a 45% interest. Its partners are Hess, now part of Chevron, with 30%, and CNOOC with 25%.
