1.1.22023 In Brief

FIRST QUARTER

  • Full Year 2022 Earnings: Directional revenue was US$3,288 million. Directional EBITDA was US$1,010 million, in line with guidance. Backlog was at a record year-end level of US$30.5 billion. A dividend of US$1.10 per share was proposed, a 10% increase compared to the dividend paid in 2022.
  • Completed project financing of FPSO Almirante Tamandaré for a total of US$1.63 billion. The project financing is provided by a consortium of 13 international banks with insurance cover from four international Export Credit Agencies (ECA). 

Second quarter

  • During the Annual General Meeting, Allard Castelein was appointed as member of the Supervisory Board.
  • Signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka 'ExxonMobil Guyana') for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. This framework agreement establishes the new terms related to the operations of the Guyana FPSO fleet for a period of 10 years up to 2033.
  • First Quarter 2023 Trading Update: Year-to-date Directional revenue of US$742 million, in line with expectations and full year 2023 Directional Revenue and Directional EBITDA guidance on track. ~US$3 billion pro-forma Directional backlog increase following 10-year Operations and Maintenance Enabling Agreement signed with ExxonMobil Guyana. Eight Fast4Ward® MPF hull ordered. Cash dividend of US$1.10 per ordinary share paid.
  • Completed project financing of FPSO Alexandre de Gusmão for a total of US$1.615 billion. The project financing is provided by a consortium of 12 international banks with insurance cover from three international Export Credit Agencies (ECA). 

third quarter

  • Half-Year 2023 Earnings: pro-forma Directional backlog increased to a new record level of US$32.2 billion.
  • Directional revenue was US$1,491million. Directional EBITDA was at US$457 million. 2023 Directional revenue and EBITDA guidance maintained. Over US$3.2 billion project financing secured.
  • Signed partnership agreement with MHI that will offer a CO2 capture solution for FPSO vessels.

fourth quarter

  • Awarded contracts to perform a FEED for an FPSO for the Whiptail development project in Guyana.
  • Third Quarter Trading Update: Directional revenue was US$2,247 million. Directional EBITDA guidance increased to around US$1.3 billion compared to US$1 billion previous guidance. Directional revenue guidance increased to around US$4.4 billion above US$2.9 billion compared to previous guidance. Increased guidance in 2023 from client purchase of FPSO Liza Unity.
  • MSCI upgraded the ESG rating of SBM Offshore from A to AA (with scores ranging from AAA to CCC), recognizing SBM Offshore’s environmental management systems and its industry leadership in managing carbon emissions.
  • Successful installation of three floaters for the Provence Grand Large offshore wind project.
  • ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, commenced and completed the purchase of FPSO Liza Unity.
  • FPSO Prosperity delivered and first oil produced in Guyana.
  • Secured a US$210 million Revolving Credit Facility (RCF) for the financing of the construction of Fast4Ward® Multi-Purpose Floater (MPF) hulls.
  • FPSO Sepetiba delivered and first oil produced in Brazil. The FPSO was formally on hire as of January 2, 2024.