SBM Offshore mothballing Brazil yard, FPU business

World’s largest FPSO supplier SBM Offshore will shut down its Brasa yard in Brazil where it integrates FPSO units’ hulls and modules, taking a $20 million impairment. Apart from this, SBM also took a $25 million impairment on its Floating Production Unit business.

The Dutch company said that despite Brazil being its key market, with a number of opportunities being actively pursued, the lead time for opportunities to mature in terms of construction activities, combined with the uncertainty regarding the evolution of local content regulations has led to the decision to keep Brasa yard shut for at least two years.

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