SBM Offshore intends to divest minority interest in FSO Chalchi

June 4 – SBM Offshore announces that it has entered into a shareholders’ agreement with its long-standing business partner Nippon Yusen Kabushiki Kaisha (NYK) with the intention to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the FSO Chalchi. SBM Offshore will remain the majority shareholder with 55% ownership interest. The divestment remains subject to several conditions precedent and approvals.

FSO Chalchi is currently under construction and will be operated under 20-year lease and operate contracts with Woodside Energy through its affiliate in Mexico, Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside).

The new build FSO is based on a Suezmax-type hull and will be equipped with a Disconnectable Turret Mooring system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 meters and will be able to store around 950,000 barrels of crude oil.

The FSO will be deployed at the Trion field, located 180 km off the Mexican coastline and 30 km south of the US/Mexico maritime border. The Trion project is a joint venture between Woodside (60%, Operator) and Petróleos Mexicanos (40%, non-Operator).