Netherlands-based SBM Offshore Completes Exchange of Interests with MISC Berhad

Netherlands-based FPSO operator SBM Offshore has completed the exchange of interests related to two floating production, storage, and offshore (FPSO) vessels with MISC Berhad (MISC), Malaysia’s owner and operator of offshore floating and energy-related maritime solutions and services.

The two players have finalized the share and purchase agreement announced in September 2024. According to the Dutch firm, this transaction forms part of the efforts to rationalize its portfolio to “maintain focus and excellence” of operations.

As a result, SBM Offshore has acquired MISC Berhad’s stake in lease and operating entities for the FPSO Espirito Santo working at the BC 10 field in Brazil’s Campos Basin offshore Vitoria for Shell do Brasil.

In exchange, the Malaysian player got SBM Offshore’s interests in lease and operating entities for FPSO Kikeh in Malaysia. The unit is working at the Kikeh deepwater field in Block K offshore Sabah, Malaysia for Murphy Sabah Oil.

Commenting on the FPSO market’s future and financial situation, SBM Offshore recently shared that it expects around 40 potential FPSO awards in the next three years, with around 40% falling within its target market.