SBM Offshore has signed a shareholders’ agreement with Nippon Yusen Kabushiki Kaisha (NYK) to sell a 45% share in the special purpose companies responsible for leasing and operating the Chalchi floating storage and offloading (FSO) vessel.
The Chalchi is under construction and, once completed, is set to operate under a 20-year lease agreement with Woodside Energy via its Mexican affiliate Woodside Petróleo Operaciones de México.
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The unit is being built on a Suezmax-type hull and will incorporate a disconnectable turret mooring system designed by SBM Offshore.
It is due to be moored at a depth of approximately 2,500m and is designed to store nearly 950,000 barrels (bbl) of crude oil.
Following the intended transaction, SBM Offshore is set to continue as majority shareholder with 55% ownership.
The proposed sale is subject to various conditions and required approvals.
Deployment of the FSO is planned for the Trion field, situated 180km off the Mexican coast and 30km south of the maritime boundary between the US and Mexico.
The Trion project is operated as a joint venture (JV) between Woodside, holding a 60% stake, and Petróleos Mexicanos, which holds the remaining 40%.
In a separate development, SBM Offshore has formed a JV with Solstad Offshore to advance a new deepwater installation and construction vessel.
The JV has signed a letter of intent with a selected shipyard for the construction of the vessel, with delivery targeted for the first half of 2029.
The new vessel is expected to assist in the installation of ocean infrastructure including floating production storage and offloading vessels (FPSOs).
In March this year, SBM Offshore secured contracts from ExxonMobil Guyana for front end engineering and design (FEED) work on the FPSO vessel planned for the Longtail project off Guyana.
The contracts, secured from ExxonMobil’s subsidiary, enable the release of funds to begin FEED activities and confirm the use of a Fast4Ward hull for the project.
The FPSO is designed to process up to 1.2 billion standard cubic feet of gas a day and produce around 250,000 barrels per day of condensate.
