SBM Offshore divests interest in FPSO Sepetiba

Dutch FPSO operator SBM Offshore has entered into a shareholder agreement with Mitsubishi Corporation and NYK regarding the divestment of a total 35.5% interest in the special purpose companies related to the lease and operation of FPSO Sepetiba.

Mitsubishi acquired 20% and NYK acquired 15.5% ownership interest in the companies. Following the deal, SBM Offshore is still operator and majority shareholder with the remaining 64.5% ownership interest.

The deal comes right after SBM Offshore secured a 22.5 years long term contract with Petrobras for the use and operation of FPSO Sepetiba this week.

The FPSO, which is capable of producing 180,000 barrels of oil per day, will be deployed at the Mero field in the Santos Basin offshore Brazil. Delivery of the FPSO is expected in 2022.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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