Our vision is to be a trusted partner, delivering reliable floating production solutions that create value for the Company’s clients, by sustainably and passionately leveraging SBM Offshore’s technology and operating experience.
SBM Offshore either builds the vessels for outright sale as a turnkey project or for long-term lease. The lease option offers clients a cost effective and flexible way to produce their reservoirs and allows them to benefit from SBM Offshore’s 271 contract years of operating experience. Additionally, leasing saves the client the capital expenditures related to the vessel’s construction, as it remains under SBM Offshore ownership or part ownership.
If the client requests the lease option, SBM Offshore will then enter into an ‘operate and maintenance’ contract with the client. Most long-term lease and operate contracts have further extension options, allowing the client to continue production if the field remains economically viable. When a contract ends, the vessel is either converted for a new contract or it is decommissioned and scrapped.
In addition to FPSOs, SBM Offshore has a track record in other solutions and products for the oil industry, including Turrets & Turret Mooring Systems, Semi-Submersible & Tension Leg Platform (TLP) production units, Topsides and also Turrets for FLNG units, as well as brownfield activities.