‘We Won’t Just Weather the Crisis, We’ll Come Out Stronger,’ SBM Offshore CEO Says

SBM Offshore, one of the world’s largest FPSO solutions providers, on Wednesday slightly reduced 2020 guidance due to uncertainty caused by the COVID-19 pandemic and the low oil price environment, but the CEO is optimistic the company will not just weather the storm, but come out stronger at the end.

The company said it expected that in the short to medium term, the number of prospects for new FPSO work will decrease, adjusting its expected directional revenue guidance from “above” to “around” US$2.3 billion expected in 2020.

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