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SBM Offshore to bid on partner's stakes in 5 FPSO vessels

SBM Offshore NV will bid on minority stakes in five Brazilian floating production storage and offloading, or FPSO, vessels, the company said in a Sept. 30 news release.

The stakes, held by affiliated companies of Serviços de Petróleo Constellation SA, 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.

Based on its half-year earnings update, SBM Offshore holds an 80% stake in Capixaba, a 50.5% interest in Cidade de Paraty, a 62.25% stake in Cidade de Ilhabela, a 56% interest in Cidade de Maricá and a 56% stake in Cidade de Saquarema.