Clients expect the highest level of productivity from our FPSOs and other floating production units. SBM Offshore’s dedicated teams around the world ensure that their objectives are met. With over 300 years of accumulated experience in offshore operations, the Company’s vision is to continue to provide customer orientated solutions and to ensure reliable operations.
PERFORMANCE AT A GLANCE
In 2017 the fleet achieved its best performance to date in terms of recordable injury rate and sustained a record average production level in the range of 1 MBbls per day in the second half of the year, as FPSO Cidade de Maricá and FPSO Cidade de Saquarema reached full capacity production levels, having started up in 2016. SBM Offshore’s fleet oil production capacity is 1,600,000 bopd. The fleet operated at 98.3% production uptime, with no unplanned, significant performance events.
Key events during 2017
- The transition phase for the handover of ownership and operations of the Turritella (FPSO) to Shell was largely concluded with no impacts on the operational performance. Final transition took place in January 2018 and SBM Offshore will continue to support the Client as required to ensure continuous operational performance through the handover.
- FPSO Serpentina offshore Equatorial Guinea has been operated since April 2017 by GEPsing, a subsidiary co-owned by SBM Offshore and the National Oil Company GEPetrol. The new contract, for five years, replaces the former one between MEGI (Mobil Equatorial Guinea Inc. affiliate of ExxonMobil) and SBM OC, which expired end of March 2017.
2017 Year-end at a glance
- 5.3 billion barrels cumulated production by December 31
- 7,635 cumulated offloads (oil)
- 304 cumulative years of operational experience
SBM Offshore is responsible for the operations of 14 units and the maintenance of all 16 units in the lease fleet across the globe consisting of:
- 13 FPSOs*
- 1 FSO
- 1 MOPU
- 1 Semi-submersible unit
Brazil accounts for the largest share of the Company’s fleet operations with a total of 7 FPSOs offshore Brazil with a production capacity of 870,000 bopd. Combined operations offshore African countries follow in second place, with a capacity of 495,000 bopd.
LEASE & OPERATE – HOW IT WORKS
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 the company’s over 300 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.
In 2017 our efforts on safety leadership and culture led to improvements in health and safety, in particular from the fleet. The Company achieved an unprecedented safety performance, improving by approximately 40% its 2016 performance.
Environmental performance also showed progress year-on-year, demonstrated by the final implementation of a pilot project on one of our FPSOs as part of our CO2 Challenge to reduce emissions, with overall flaring on SBM Offshore’s account achieving the set target. This project among others has contributed to SBM Offshore’s inclusion in the Dow Jones Sustainability Index for the eighth year running and the Company received ‘Silver Class‘.
The Company’s overall objective is to offer an incident-free workplace and minimize the risks to the health and safety of all its personnel. As part of its journey towards safety excellence, the annual, Company-wide Life Day took place around its world locations on the theme: Going Beyond