SBM Offshore Responds to Brazilian News Reports

The Company responds to news that CEO Bruno Chabas and member of the Supervisory Board Sietze Hepkema appear on a list of (former) Petrobras executives, former sales agents and (former) SBM Offshore executives who may be prosecuted in Brazil in relation to a corruption scandal.

The Company will seek clarification on this news with the relevant authorities. The Company believes that allegations are without merit, based on what it heard so far. Bruno Chabas was appointed CEO effective January 1, 2012 and immediately initiated the self-reporting and investigations that led to a settlement with the Dutch Public Prosecutor over alleged improper payments in November 2014. Sietze Hepkema joined the Company in May 2012 to establish a robust compliance culture throughout the Company.

As of March 17, 2015 the Company is in discussions with the Comptroller General’s Office (Controladoria-Geral da União – “CGU”), the Attorney General’s Office (Advocacia-Geral da União – “AGU”) and Petrobras on a potential mutually acceptable settlement and for the disclosure by SBM Offshore of information relevant to the CGU’s investigations. These discussions are ongoing.

The Company will continue to cooperate with authorities.

Corporate Profile

SBM Offshore N.V. (the “Company”) is a listed holding company that is headquartered in Amsterdam.  It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group (the “Group”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle.  SBM Offshore is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field.  The Group’s main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels.  These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities.  In this communication “SBM Offshore” is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies concerned.  Please visit our website at

The Management Board
Amsterdam, The Netherlands, November 17, 2015

Financial Calendar Date  Year
Full-Year 2015 Results – Press Release February 10 2016
Publication of AGM Agenda February 24 2016
Annual General Meeting of Shareholders April 6 2016
Trading Update 1Q 2016 – Press Release May 11 2016
Half-Year 2016 Earnings – Press Release August 10 2016
Trading Update 3Q 2016 – Press Release November 9 2016

For further information, please contact:

Investor Relations

Nicolas D. Robert
Head of Investor Relations

Telephone: +377 92 05 18 98
Mobile: +33 (0) 6 40 62 44 79
E-mail: nicolas [dot] robert [at] sbmoffshore [dot] com

Media Relations

Anne Guerin-Moens
Group Communications Director

Telephone: +377 92 05 30 83
Mobile: +33 (0) 6 80 86 36 91
E-mail: anne [dot] guerin-moens [at] sbmoffshore [dot] com


Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.

¹Directional view is a non-IFRS disclosure, which treats all lease contracts as operating leases and consolidates all vessel joint ventures are proportionally consolidated.