SBM Offshore has entered into an agreement with Nippon Yusen Kabushiki Kaisha (NYK) to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the FSO Chalchi. Following the transaction, SBM Offshore will remain the majority shareholder with a 55% ownership interest.
Transaction Context
The FSO Chalchi is currently under construction and will be operated under a 20-year lease and operate contracts with Woodside Energy. 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.
Operational Impact
The FSO will be moored in a water depth of about 2,500 meters and will be able to store around 950,000 barrels of crude oil. The unit 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 operator Woodside and its partner Pemex.
"This strategic divestment aligns with SBM Offshore's focus on optimizing its portfolio and strengthening partnerships," said an industry insider.
Implications for Shippers and Operators
- Capacity and Operations: The deployment of FSO Chalchi will enhance crude oil storage capacity in the region, potentially impacting shipping schedules and logistics planning.
- Strategic Partnerships: The partnership between SBM Offshore and NYK may lead to further collaborations in offshore logistics and operations.
Watch List
- Construction Progress: Monitor the construction timeline of FSO Chalchi for any delays or advancements.
- Operational Readiness: Assess the readiness of the FSO for deployment and its impact on regional oil logistics.
| Company | Stake Before | Stake After |
|---|---|---|
| SBM Offshore | 100% | 55% |
| NYK | 0% | 45% |
This transaction marks a significant shift in the ownership structure of the FSO Chalchi, with potential implications for logistics and operations in the region.
