Sept. 6, 2019
SBM Offshore and ExxonMobil signed a Long-Term Agreement covering potential future FPSO orders. This agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work regarding potential future contracts relating to leased FPSOs, which includes BuildOperate-Transfer projects that generally cover a short lease term.
The relationship between SBM Offshore and ExxonMobil is well-established and goes back over four decades, starting in the 1970s. During this period, SBM Offshore has supplied more than ten floating systems to ExxonMobil in five countries, including five FPSOs, deep water offloading systems and an FSO. Additionally, multiple major projects are currently in various stages of progress.