Seatrium Signs US$156 Million Contract with SBM Offshore to Integrate an FPSO
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Singaporean shipyard Seatrium has been awarded a contract by Dutch floating units specialist SBM Offshore to carry out the integration of an FPSO (floating production, storage and offloading) unit destined for South America. The agreement is valued at more than US$156 million, according to multiple sources, though with slight differences in the exact figure: MundoMaritimo puts it at over US$156.4 million, Trade News calculates it at SGD 200 million (US$156 million), and Splash 247 at S$200 million (US$156.5 million).
Scope of Work
The contract covers the fabrication of support structures for the mooring and riser systems, as well as the flare tower and its associated deck support structures. It also includes vessel modifications, dry dock work and the integration of the processing topside modules, along with mechanical completion, precommissioning and support during commissioning and sea trials.
Execution Timeline
According to Splash 247, work will begin in the fourth quarter of 2026, with completion scheduled for 2029, a timeline consistent with the project execution schedule reported by MundoMaritimo.
Unidentified Project
Neither Seatrium nor SBM Offshore disclosed the identity of the FPSO unit or the specific oil project it will serve, nor the South American country where it will operate once integration is complete.
Track Record with SBM Offshore
According to Splash 247, this award adds to a series of FPSO construction and integration projects that Seatrium has been carrying out for SBM Offshore, particularly offshore Guyana. In May 2024, the company had secured the contract to fabricate and integrate the topside modules for the Jaguar FPSO, intended for ExxonMobil's Whiptail development in the Stabroek block, with a production capacity of 250,000 barrels per day and first oil expected in 2027; that agreement was, moreover, Seatrium's 29th project for SBM Offshore, following previous work on the Liza Destiny, Liza Unity, Prosperity and One Guyana FPSOs.
The same source indicates that SBM Offshore has expanded its project portfolio in South America this year by adding contracts for Petrobras's SEAP I and SEAP II FPSOs offshore Brazil, in addition to front-end engineering design (FEED) work for ExxonMobil's Longtail development in Guyana.
