SBM Offshore Exits Equatorial Guinea with FPSO Divestment Deal
Netherlands-based SBM Offshore is completing its withdrawal from Equatorial Guinea through a strategic divestment of its FPSO Aseng interests to the country’s national oil company GEPetrol. The transaction involves SBM’s full equity stake in the lease and operating entities, with operational transition expected to take up to 12 months.
The FPSO Aseng has been operational since November 2011 on the Aseng field in approximately 1,000 meters of water. The platform processes 120,000 barrels of liquids daily, including 80,000 barrels of oil, with storage capacity for 1.6 million barrels.
The divestment aligns with SBM Offshore’s strategy to rationalize its lease and operate portfolio, following similar exits from Guyana operations where ExxonMobil acquired multiple FPSO units for billions of dollars.
Source: offshore-energy.biz
