ExxonMobil Signs Long-Term FPSO Supply Deal With SBM Offshore

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US oil and gas giant, Exxon Mobil Corp. and SBM Offshore, an Amsterdam-based floating production and mooring company have signed a long-term agreement covering potential future floating, production, storage and offloading (FPSO) orders, SBM reported Friday.

The non-exclusive agreement sets the general legal framework and specific terms for the engineering, procurement, construction and installation work on potential future contracts relating to leased FPSOs, SBM explained in a written statement posted on the its  website.

In addition, SBM noted the deal covers typically short-term Build-Operate-Transfer projects.

“This agreement aims at extending our constructive business relationships with ExxonMobil that has been created through delivering a series of major offshore projects together,” Severine Baudic, managing director of SBM’s Floating Production Solutions unit said.

“We look forward to continue working together in the future and expanding our track record of reliable execution on deep water projects,” she added.

SBM pointed out that its relationship with ExxonMobil began the 1970s. The firm stated that it has supplied the supermajor with more than 10 floating systems – including five FPSOs, deep water offloading systems and a floating storage offloading (FSO) unit – over the ensuing four decades. It also noted that “multiple major projects” are underway.

One recent project SBM delivered for ExxonMobil is the conversion of a very large crude carrier into the Liza Destiny FPSO. Liza Destiny is the first of as many as five FPSOs to be deployed in the Stabroek Block offshore Guyana.

“We are very pleased with the long-term FPSO supply agreement with ExxonMobil,” Bruno Chabas, SBM’s CEO stated.

“This agreement is a continuation of our long history of successful teamwork between our companies, further strengthening our long-term cooperation.”

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