SBM Offshore announces lease extension for FPSO Espirito Santo
Published by Nicholas Woodroof,
SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full Year 2020 Earnings.
SBM Offshore signed an agreement with its client Shell for a five years’ extension for the lease and operate contracts of the FPSO Espirito Santo located in Brazil. The end of the contractual lease and operate period was extended from December 2023 to December 2028. SBM Offshore is the majority owner of the lease and operating companies related to FPSO Espirito Santo with 51% equity ownership, together with MISC Berhad with 49% equity ownership.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited, has also initiated discussions with SBM Offshore about potentially extending the lease and operate durations for FPSOs in Guyana.
Read the latest issue of Oilfield Technology in full for free: Oilfield Technology's November/December 2020 issue
The November/December issue of Oilfield Technology begins by reviewing the state of the North Sea before moving on to cover a range of topics, including Drilling Technologies, Deepwater Operations, Flow Control.
Contributors come from Varel Energy Solutions, Gyrodata, Clariant Oil Services, Drillmec and many more.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/23122020/sbm-offshore-announces-lease-extension-for-fpso-espirito-santo/
You might also like
Equinor welcomes OKEA as new partner in the Statfjord area
The company has entered into an agreement to divest 28% working interest in PL037 (Statfjord area) to OKEA with an effective date 01 January 2023.