Welcome to our dedicated page for Sbm Offshore news (Ticker: SBFFY), a resource for investors and traders seeking the latest updates and insights on Sbm Offshore stock.
SBM Offshore N.V. (SBFFY) is described by the company as the world’s deepwater ocean‑infrastructure expert, focused on the design, construction, installation, and operation of offshore floating facilities for energy production. The news flow around SBM Offshore reflects both its operational activities in deepwater offshore environments and its capital management decisions.
Recent press releases provide detailed weekly updates on a EUR 141,189,019 share repurchase program. These updates summarize cumulative repurchase amounts, quantities repurchased, average repurchase prices, and the percentage of the program completed. They also specify that shares are being repurchased via Euronext Amsterdam, CBOE DXE and/or Turquoise. For investors, these disclosures offer insight into how SBM Offshore manages its share capital and supports management and employee share programs.
Operationally focused news includes announcements such as the contract extension for the lease and operation of FPSOs Mondo and Saxi Batuque with Esso Exploration Angola (Block 15) Limited, an affiliate of ExxonMobil. SBM Offshore notes that this extension secures ownership and operations until 2032 and involves life‑extension activities for equipment replacement and refurbishment, highlighting its capabilities in deepwater asset operation and complex offshore brownfield work.
Another example is the confirmation of the completion of a Share Purchase Agreement with GEPetrol for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng. The company links this transaction to its strategy to rationalize its Lease & Operate portfolio. Together, these items show that SBM Offshore’s news typically covers share repurchase activity, portfolio adjustments in leased and operated offshore units, and long‑term contracts for deepwater floating production systems.
Investors and observers can use the SBFFY news feed to follow these developments, track the progress of the share repurchase program, and monitor how SBM Offshore describes its role in the energy transition and blue economy through its public announcements.
SBM Offshore announced significant updates on August 4, 2022, including an increased 2022 Directional EBITDA guidance from $900 million to over $950 million and revenue guidance raised from $3.1 billion to approximately $3.2 billion. The pro-forma order book reached a record $31.1 billion, ensuring strong cash flow visibility until 2050. The company continues to focus on sustainability, targeting net-zero emissions by 2050, with interim goals set for 2030. Despite challenges from global supply chains and the pandemic, profitability remains robust, with a 64% revenue increase in 1H 2022.
SBM Offshore announced the completion of project financing for FPSO ONE GUYANA, totaling US$1.75 billion. The financing, secured through a consortium of 15 banks, will be drawn over the construction period and will be non-recourse post-completion. The FPSO is set to produce approximately 250,000 barrels of oil per day and will have gas treatment and water injection capacities of 450 million cubic feet and 300,000 barrels per day, respectively. The project is part of the Yellowtail development in the Stabroek block, with Exxon Mobil holding a significant interest.
SBM Offshore announces the resignation of Philippe Barril as Chief Transition Officer effective August 31, 2022, following his appointment as CEO of Heerema Marine Contractors on September 1, 2022. Barril has been a part of SBM since 2015, taking on various roles including Chief Operating Officer. His departure will lead to a simplified Management Board structure, redistributing his responsibilities among the remaining members aimed at sustaining SBM's progression as an energy transition company. CEO Bruno Chabas commended Barril's contributions during his tenure.
SBM Offshore reported year-to-date directional revenue of US$970 million, up 89% from US$513 million in Q1 2021. The company maintains its full-year guidance for 2022, expecting over US$3.1 billion in revenue. A cash dividend of US$1 per share was paid, reflecting a 13% increase year-on-year. Key projects include the successful delivery of FPSO Liza Unity and the confirmed award for FPSO ONE GUYANA. Despite global supply chain pressures, the company anticipates continued profitability in its project portfolio.
On April 6, 2022, SBM Offshore held its Annual General Meeting, where all resolutions proposed were approved. Notable appointments included Øivind Tangen to the Management Board and Hilary Mercer to the Supervisory Board. A cash dividend of US$1 per share was also authorized, payable on May 4, 2022, translating to €0.9137 per share. The company confirmed no significant business operations in Ukraine or Russia amid ongoing geopolitical tensions but acknowledged potential future impacts.
On April 5, 2022, SBM Offshore announced the award of contracts for the Yellowtail development project in Guyana by Esso Exploration and Production Guyana Limited, a subsidiary of Exxon Mobil. SBM Offshore will construct, lease, and operate the ONE GUYANA FPSO for up to two years, after which ownership will transfer to EEPGL. The FPSO is designed to produce 250,000 barrels of oil per day and has a storage capacity of 2 million barrels. This project marks a significant advancement in the Stabroek Block, with SBM Offshore committed to employing local talent.
On March 23, 2022, SBM Offshore announced the signing of a shareholder agreement with Mitsubishi Corporation and Nippon Yusen Kaisha regarding the FPSO Alexandre de Gusmão project. Mitsubishi and NYK will acquire 25% and 20% ownership, respectively, while SBM Offshore retains a majority 55% stake. The FPSO is under construction for deployment at the Mero field offshore Brazil under a 22.5-year contract with Petrobras, with first oil expected in 2025. This move reflects SBM's strategy to enhance partnerships and expand its offshore operations.
SBM Offshore has released the agenda and invitation for its Annual General Meeting (AGM), scheduled for April 6, 2022, at 14:30 CET. The meeting will be held virtually, focusing on the company's commitment to sustainable energy solutions and reducing emissions from fossil fuels. With over 5,000 employees globally, SBM Offshore remains dedicated to delivering affordable energy from the oceans. The company has also outlined its financial calendar, with key dates for trading updates and earnings releases throughout 2022 and 2023.
SBM Offshore has successfully commenced oil production from its FPSO Liza Unity, which officially went on hire on February 11, 2022. This unit is the first designed under SBM Offshore’s innovative Fast4Ward® program, featuring a multi-purpose floater hull and standardized topsides modules. Located approximately 200 kilometers off the coast of Guyana in the Stabroek block, the Liza field is operated by ExxonMobil's subsidiary, with interests from Hess and CNOOC. CEO Bruno Chabas highlighted the project's significance, emphasizing its low emission intensity and efficient production capabilities.
SBM Offshore announced a 13% increase in dividend to US$1 per share following a strong performance in 2021, with Directional EBITDA of US$931 million and total cash returns of US$343 million to shareholders. The company reported a record backlog of US$29.5 billion, ensuring cashflow visibility until 2050. The 2022 revenue guidance is projected to exceed US$3.1 billion. CEO Bruno Chabas emphasized the company's commitment to the energy transition and ongoing investment in floating offshore wind technologies.