SBM Offshore's Strategic $400 Million Investment in FPSO
SBM Offshore Secures Significant Financing for FPSO Cidade de Paraty
SBM Offshore has embarked on an exciting financial venture by finalizing a non-recourse sale and leaseback agreement valued at US$400 million for its floating production storage and offloading vessel, FPSO Cidade de Paraty. This arrangement, spanning an impressive tenure of eight years, is poised for completion in the near future, marking a significant milestone in the company’s strategic financial management.
Ownership Transfer to Chinese Partners
The FPSO Cidade de Paraty is currently under the ownership of a special purpose vehicle, where SBM Offshore holds a substantial stake of 63.125%, with the remaining 36.875% owned by its partners. Under this latest agreement, the special purpose company will be transferring ownership of the FPSO to four leasing companies based in China, reflecting the growing cooperation between SBM Offshore and its international partners.
Operational Continity During Transition
Throughout this transaction, SBM Offshore and its partners will maintain operational control of the FPSO until the completion of the initial charter agreements, which extend for an additional 8.5 years. This continuity ensures that the asset remains productive and strategically integrated within SBM Offshore’s portfolio.
CFO Highlights Strategic Value of the Financing
Douglas Wood, the CFO of SBM Offshore, expressed enthusiasm about this deal, emphasizing it as a pivotal move for increasing financial flexibility and demonstrating SBM’s unique lifecycle offering. He stated that this financing model not only aids the company in executing projects efficiently but also allows for the provision of innovative, long-term financial solutions to clients. The ongoing support from Chinese leasing partners has also garnered appreciation, indicating a strong international partnership.
Corporate Identity and Industry Leadership
As a leading expert in deepwater ocean infrastructure, SBM Offshore has established itself at the forefront of offshore floating facility operations, playing a crucial role in the global transition toward cleaner energy sources. The company’s commitment to balancing ocean protection with energy production marks it as a responsible participant in the blue economy.
Collaborative Workforce Driving Innovations
With a dedicated workforce of over 7,800 professionals, SBM Offshore thrives on innovation—designing sustainable solutions that meet the needs of a rapidly evolving energy market. Their adaptive strategies pave the way not just for efficient operations, but also open new avenues for growth in various sectors.
Engagement and Availability for Stakeholders
For stakeholders and interested parties seeking further information about SBM Offshore’s recent activities or its operational framework, the company has made ample resources available. The Investor Relations team led by Wouter Holties can be contacted for inquiries concerning corporate finance strategies at +31 (0)20 236 32 36. For media-related enquiries, Giampaolo Arghittu serves as the point of contact.
Additionally, stakeholders can explore in-depth information on SBM Offshore’s initiatives by visiting their official website, where comprehensive details about their projects and innovations are readily available.
Frequently Asked Questions
What is the sale and leaseback agreement signed by SBM Offshore?
The agreement involves a financial transaction where SBM Offshore sells the FPSO Cidade de Paraty for US$400 million while retaining operational control for an extended period.
Who are the partners involved in the FPSO Cidade de Paraty?
SBM Offshore controls 63.125% of the FPSO Cidade de Paraty, with the remaining 36.875% owned by its partners.
How long is the lease term for the FPSO Cidade de Paraty?
The lease term for the FPSO Cidade de Paraty is set for eight years, providing financial stability and operational assurance.
What role does SBM Offshore play in environmental sustainability?
SBM Offshore focuses on delivering innovative energy solutions that balance efficient production with ocean sustainability, contributing positively to the blue economy.
Who can stakeholders contact for more information about SBM Offshore?
Stakeholders can reach out to Wouter Holties via phone or email for inquiries related to corporate finance and investor relations.
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