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SBM Offshore wins bidding for stakes in 5 FPSO vessels

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SBM Offshore wins bidding for stakes in 5 FPSO vessels

SBM Offshore NV won the bidding for stakes in five Brazilian floating production storage and offloading vessels conducted by its partner Serviços de Petróleo Constellation SA for around $150 million, excluding non-recourse project debt.

The transaction is subject to regulatory approval from the Administrative Council for Economic Defense and approval from client Petróleo Brasileiro SA, according to an Oct. 18 news release from SBM Offshore.

The stakes, held by affiliated companies of Serviços de Petróleo Constellation, formerly known as Queiroz Galvão Óleo e Gás SA, are a 20% interest in Capixaba, a 20% stake in Cidade de Paraty, a 12.75% interest in Cidade de Ilhabela, a 5% stake in Cidade de Marica and a 5% interest in Cidade de Saquarema.

SBM said it already owns the majority shares in the affiliated entities and serves as operator of the FPSOs.