SBM Offshore signs long-term deal with ExxonMobil for FPSO orders

Dutch floater specialist SBM Offshore and ExxonMobil have signed a Long-Term Agreement covering potential future FPSO orders.

SBM last week delivered the first FPSO – Liza Destiny – for ExxonMobil’s Liza Phase 1 Development project offshore the South American country of Guyana.

SBM said the Long-Term Agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work regarding potential future contracts relating to leased FPSOs, which includes Build-Operate-Transfer projects that generally cover a short lease term.

The relationship between SBM Offshore and ExxonMobil is well-established and goes back over four decades, starting in the 1970s. During this period, SBM Offshore has supplied more than ten floating systems to ExxonMobil in five countries, including five FPSOs, deep water offloading systems and an FSO.

Additionally, multiple major projects are currently in various stages of progress, SBM Offshore said.

This includes the second FPSO destined for Guyana – Liza Unity – being built under SBM’s Fast4Ward^TM programme.

“We are very pleased with the long-term FPSO supply agreement with ExxonMobil. This agreement is a continuation of our long history of successful teamwork between our companies, further strengthening our long-term cooperation,” Bruno Chabas, CEO of SBM Offshore commented.

Meanwhile, Séverine Baudic, Managing Director Floating Production Solutions of SBM Offshore said, “This agreement aims at extending our constructive business relationship with ExxonMobil that has been created through delivering a series of major offshore projects together. We look forward to continue working together in the future and expanding our track-record of reliable execution on deep water projects.”