Latest news with #SBMOffshore
Yahoo
5 days ago
- Business
- Yahoo
SBM Offshore signs Share Purchase Agreement with GEPetrol
Amsterdam, June 4, 2025 SBM Offshore announces it has signed a Share Purchase Agreement for the full divestment of SBM Offshore's equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol. The Company's exit from Equatorial Guinea will take place following an operational transition phase lasting up to 12 months. SBM Offshore's sale of its participation in the unit in Equatorial Guinea is in line with its strategy to rationalize its Lease & Operate portfolio, as per other recent transactions. The agreement remains subject to several conditions precedent and approvals. Corporate Profile SBM Offshore is the world's deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with further information, please visit our website at Financial Calendar Date Year Half Year 2025 Earnings August 7 2025 Third Quarter 2025 Trading Update November 13 2025 Full Year 2025 Earnings February 26 2026 Annual General Meeting April 15 2026 First Quarter 2026 Trading Update May 7 2026 For further information, please contact: Investor Relations Wouter HoltiesCorporate Finance & Investor Relations Manager Phone: +31 (0)20 236 32 36 E-mail: Website: Media Relations Giampaolo ArghittuHead of External Relations Phone: +31 (0)6 212 62 333 / +39 33 494 79 584 E-mail: Website: Market Abuse Regulation This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Disclaimer Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the 'Impacts, Risks and Opportunities' section of the 2024 Annual Report. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company's business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports - SBM Offshore. Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release 'SBM Offshore' and 'SBM' are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies. "SBM Offshore®", the SBM logomark, 'Fast4Ward®', 'emissionZERO®' and 'F4W®' are proprietary marks owned by SBM Offshore. Attachment SBM Offshore signs Share Purchase Agreement with GEPetrolError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
FPSO Alexandre de Gusmão producing and on hire
Amsterdam, May 27, 2025 SBM Offshore announces that FPSO Alexandre de Gusmão is formally on hire as of May 24, 2025 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance. FPSO Alexandre de Gusmão has a processing capacity of 180,000 barrels of oil and 12 million m3 of gas per day. FPSO Alexandre de Gusmão is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%). The FPSO will operate under 22.5-year charter and operation services contracts with Petróleo Brasileiro S.A. (Petrobras). The FPSO is installed at the Mero unitized field located in the Santos Basin, approximately 160 kilometers offshore Rio de Janeiro in Brazil. The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-sal Petróleo S.A. – PPSA (3.5%), representing the government in the non-contracted area. FPSO Alexandre de Gusmão follows the start-up of FPSO Almirante Tamandaré, which is on hire since February 16, 2025 and is the fifth Fast4Ward® FPSO entering operation. Corporate Profile SBM Offshore is the world's deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with further information, please visit our website at Financial Calendar Date Year Half Year 2025 Earnings August 7 2025 Third Quarter 2025 Trading Update November 13 2025 Full Year 2025 Earnings February 26 2026 Annual General Meeting April 15 2026 First Quarter 2026 Trading Update May 7 2026 For further information, please contact: Investor Relations Wouter HoltiesCorporate Finance & Investor Relations Manager Phone: +31 (0)20 236 32 36 E-mail: Website: Media Relations Giampaolo ArghittuHead of External Relations Phone: +31 (0)6 212 62 333 / +39 33 494 79 584 E-mail: Website: Market Abuse RegulationThis press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. DisclaimerSome of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the 'Impacts, Risks and Opportunities' section of the 2024 Annual Report. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company's business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports - SBM Offshore. Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release 'SBM Offshore' and 'SBM' are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies. "SBM Offshore®", the SBM logomark, 'Fast4Ward®', 'emissionZERO®' and 'F4W®' are proprietary marks owned by SBM Offshore. Attachment FPSO Alexandre de Gusmao producing and on hire
Yahoo
27-05-2025
- Business
- Yahoo
FPSO Alexandre de Gusmão producing and on hire
Amsterdam, May 27, 2025 SBM Offshore announces that FPSO Alexandre de Gusmão is formally on hire as of May 24, 2025 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance. FPSO Alexandre de Gusmão has a processing capacity of 180,000 barrels of oil and 12 million m3 of gas per day. FPSO Alexandre de Gusmão is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%). The FPSO will operate under 22.5-year charter and operation services contracts with Petróleo Brasileiro S.A. (Petrobras). The FPSO is installed at the Mero unitized field located in the Santos Basin, approximately 160 kilometers offshore Rio de Janeiro in Brazil. The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-sal Petróleo S.A. – PPSA (3.5%), representing the government in the non-contracted area. FPSO Alexandre de Gusmão follows the start-up of FPSO Almirante Tamandaré, which is on hire since February 16, 2025 and is the fifth Fast4Ward® FPSO entering operation. Corporate Profile SBM Offshore is the world's deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with further information, please visit our website at Financial Calendar Date Year Half Year 2025 Earnings August 7 2025 Third Quarter 2025 Trading Update November 13 2025 Full Year 2025 Earnings February 26 2026 Annual General Meeting April 15 2026 First Quarter 2026 Trading Update May 7 2026 For further information, please contact: Investor Relations Wouter HoltiesCorporate Finance & Investor Relations Manager Phone: +31 (0)20 236 32 36 E-mail: Website: Media Relations Giampaolo ArghittuHead of External Relations Phone: +31 (0)6 212 62 333 / +39 33 494 79 584 E-mail: Website: Market Abuse RegulationThis press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. DisclaimerSome of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the 'Impacts, Risks and Opportunities' section of the 2024 Annual Report. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company's business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports - SBM Offshore. Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release 'SBM Offshore' and 'SBM' are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies. "SBM Offshore®", the SBM logomark, 'Fast4Ward®', 'emissionZERO®' and 'F4W®' are proprietary marks owned by SBM Offshore. Attachment FPSO Alexandre de Gusmao producing and on hireError while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Weekly share repurchase program transaction details
Amsterdam, May 21, 2025 SBM Offshore reports the transaction details related to its EUR141 million (c. US$150 million1) share repurchase program for the period May 15, 2025 through May 21, 2025. The repurchases were made under the EUR141 million share repurchase program announced on February 20, 2025 and effective from April 24, 2025. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period April 24, 2025 through May 21, 2025 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company's website. Share Repurchase Program Overall progress Share Repurchase Program: Total Repurchase Amount EUR 141,189,019 Cumulative Repurchase Amount EUR 13,456,608 Cumulative Quantity Repurchased 725,123 Cumulative Average Repurchase Price EUR 18.56 Start Date April 24, 2025 Percentage of program completed as of May 21, 2025 9.53% Overview of details of last 5 trading days: Trade Date Quantity Repurchased Average Purchase Price Settlement Amount May 15, 2025 58,619 EUR 18.61 EUR 1,090,659 May 16, 2025 49,971 EUR 18.57 EUR 927,817 May 19, 2025 32,954 EUR 18.94 EUR 624,205 May 20, 2025 33,927 EUR 18.88 EUR 640,376 May 21, 2025 33,539 EUR 19.12 EUR 641,329 Total 209,010 EUR 18.78 EUR 3,924,386 All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore's current share repurchase program, as announced by the Company on February 20, 2025, details of which are available on its website. Corporate Profile SBM Offshore is the world's deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress. For further information, please visit our website at Financial Calendar Date Year Half Year 2025 Earnings August 7 2025 Third Quarter 2025 Trading Update November 13 2025 Full Year 2025 Earnings February 26 2026 Annual General Meeting April 15 2026 First Quarter 2026 Trading Update May 7 2026 For further information, please contact: Investor RelationsWouter HoltiesCorporate Finance & Investor Relations Manager Mobile: +31 (0) 2 02 36 32 36 E-mail: Website: Media Relations Giampaolo ArghittuHead of External Relations Phone: +31 (0) 6 212 62 333 / +39 33 494 79 584 E-mail: Website: Market Abuse RegulationThis press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. DisclaimerSome of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the 'Impact, Risk and Opportunity Management' section of the 2023 Annual one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company's business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release 'SBM Offshore' and 'SBM' are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies."SBM Offshore®", the SBM logomark, 'Fast4Ward®', 'emissionZERO®' and 'F4W®' are proprietary marks owned by SBM Offshore. 1 Based on the foreign exchange rate on February 20, 2025 Attachment Press Release Week 20 & 21 - May 15 to May 21 2025Sign in to access your portfolio
Globe and Mail
19-05-2025
- Business
- Globe and Mail
Is offshore wind Nova Scotia's greatest opportunity since the Age of Sail?
For two years, a twin-engine plane flew in a grid pattern over 1,100 square kilometres of the Atlantic Ocean off Canada's east coast. High-speed cameras captured detailed video, which was used to identify birds, fishing boats, whales and turtles. The imagery's resolution was so fine that it could reveal the birds' species and gender. This aerial survey was early preparatory work for a proposed wind farm, to be located between 20 and 30 kilometres east of Goldboro, N.S. Water depths range from about 80 to 200 metres – ideal for floating turbines, an emerging technology that could open huge new swaths of ocean for power generation. The project, dubbed Nova East Wind, would consist of 20 or more turbines with a combined generating capacity of 400 megawatts. It's a joint venture between renewable energy developer DP Energy and SBM Offshore, a Dutch oil and gas services company. If successful, it would be Canada's first offshore wind farm. Even as U.S. President Donald Trump seeks to terminate offshore wind projects in his country, Nova Scotia's government is leaning hard into the breeze. The province aims to rapidly build five gigawatts of capacity, more than its approximately one million residents require. The surplus power could be used to produce hydrogen in industry and transportation, or be exported to neighbours. The plan is to have hundreds of turbines spinning within the next decade. Senior government officials have gone so far as to call it the province's greatest opportunity since the Age of Sail. N.S. Energy Minister Trevor Boudreau said in an interview that offshore wind and hydrogen development could add $10-billion to the province's GDP, currently $46-billion. It is far from certain, however, that offshore wind is Nova Scotia's ticket to recapturing its glories of the 19th century. Canada has roughly 350 wind farms with a combined capacity of about 18 gigawatts, according to the Canadian Renewable Energy Association. Every single one is on land. Previous attempts to establish farms off B.C. and in the Great Lakes came to nothing. The United States has only four operating offshore projects. Nova Scotia boasts some of the most enticing winds on the planet. But the early work, including those aerial surveys, hints at monumental challenges ahead. And the province has seen energy crazes before, including more than a decade of experimentation with harnessing the Bay of Fundyʼs awesome tides, which also happen to be world-class. Sometimes, geography just isn't enough. Harkening back to the Age of Sail invokes powerful nostalgia in Nova Scotia. 'In 1878, Canada ranked fourth among the ship-owning countries of the world with a flotilla of 7,196 vessels,' Frederick William Wallace wrote in Wooden Ships and Iron Men, a definitive account of eastern Canada's shipbuilding industry published in 1924. 'During the half-century between 1840 and 1890 – the era of the British North American 'wind jammers' – they captured a huge share of the world's carrying trade and built a reputation for smart ships and native-born seamen that was a legend in nautical history.' But all that is a distant memory, and some of Nova Scotia's ports aren't what they used to be. Offshore projects need ports nearby with enough berths, crane capacity and land for storing materials. An assessment of offshore wind's potential in Nova Scotia, published in January for provincial and federal ministers, concluded that the province's existing ones were inadequate. Gerald Sheehan, Nova East Wind's project's director, is now searching for ports that could serve as staging areas for the proposed farm, which would be roughly equidistant from Sheet Harbour and the Strait of Canso. The infrastructure deficit is real, he said, but also resolvable. Another challenge is that Nova Scotia's existing power lines aren't adequate for exporting huge amounts of electricity. Currently, Nova Scotia Power generates the majority of the province's electricity, mostly by burning coal. Scott Balfour, chief executive of the utility's owner Emera Inc., said offshore wind 'can and will' be part of the province's energy mix. 'We'll need some transmission capacity in order to move that to provinces like New Brunswick, Quebec and Ontario, and even into New England,' he said. While Emera lacks the required experience to develop offshore projects, and Nova Scotia Power is gradually withdrawing from power generation to become a 'poles and wires' business, Mr. Balfour added that his company could participate by connecting offshore projects to the grid. 'We've now built the two longest subsea cables in North America. So we know something about building subsea cables.' Mr. Boudreau said Nova Scotia and New Brunswick are strengthening their interprovincial lines, which will allow his province to trade electrons with Quebec and New England. But with Canada-U.S. relations deteriorating, securing reliable export markets would appear to be a daunting challenge. Nova Scotia possesses additional experience by virtue of its decades-long dalliance with offshore oil and gas. That wrapped up a few years ago, freeing up talent to refocus on renewable energy. Those skills are highly transferable, said Thomas Timmins, head of the energy law practice at Gowling WLG. 'A lot of the challenges of offshore wind – surprise, surprise – are not that different than the challenges faced by the offshore oil and gas sector,' he said. The Scotian Shelf – the sprawling segment of the continental shelf surrounding the province – boasts some of the world's strongest winds, according to the joint federal-provincial assessment. Wind speed is naturally critical, because its relationship with electricity generated is exponential. Sea breezes also blow more constantly, allowing offshore turbines to generate power more consistently than their land-based siblings. The very fact that wind farms are sited in windy areas means they must be able to withstand severe abuse. Studies have suggested that extreme waves off Nova Scotia, with a return period of 50 years, could be far higher than 15 metres. Sometimes the seabed is too unstable to support foundations. Sea ice, though dwindling amid a warming climate, still presents a threat. Protected marine habitats must be avoided. There's also shipping traffic. And although low greenhouse gas emissions is a key benefit, offshore wind projects will necessarily have an impact on fish, sea turtles, marine mammals and birds – though to what extent is hotly debated, and clouded by gaps in knowledge. Turbines could be spaced as distantly as several kilometres apart, but they will still affect fishermen. Long-liners, who fish tuna, halibut and swordfish, would be at risk of snagging their gear on foundations. If farms must be avoided altogether, fishermen could incur significant fuel costs manoeuvring around them. All that raises tricky questions about compensation. In its final analysis, the federal-provincial assessment committee deemed all of these obstacles to be surmountable – after all, other jurisdictions have navigated them. Even so, the challenges have tripped up even the most experienced developers. The first offshore wind farm was commissioned off Denmark in 1991. The World Forum Offshore, a global industry group, said 31 offshore farms began operating last year, increasing total global capacity to 78.5 gigawatts; China, Britain, Germany and the Netherlands dominate. But offshore projects tend to be more expensive than onshore wind, solar or combined cycle natural gas. That's according to Lazard, an American investment bank that has produced energy cost data for nearly two decades. Denmark-based Orsted, the world's largest offshore wind developer, has executed projects in Britain, Germany, Poland, Sweden, Taiwan, Korea and Australia. Lately, it has lately been forced to writedown billions of dollars after determining that it could no longer earn profits on various projects. The company ceased developments off New Jersey in 2023, citing rising costs, slow permitting and supply chain challenges. It warned that costs of electricity generated by offshore wind have been rising, raising the likelihood of further cancellations. GE Vernova, which was spun off from the former General Electric conglomerate last year, has also felt the pain. Its offshore wind operations, which manufactures turbines and blades, have been unprofitable, and it has been dogged by embarrassing blade failures, leading to costly delays. Mr. Balfour acknowledged offshore wind farms cost more than alternatives. 'But if you're getting more energy, more consistently, that helps to make the cost per megawatt hour and the cost of the system more moderate. That's the exciting part of this.' The government's own enthusiasm has fuelled the comparisons to the Age of Sail. But it's worth recalling just how distant Nova Scotia's golden age of shipbuilding has become. By the time Mr. Wallace waxed poetically about it in his now century-old book, the sailors and shipbuilders who made it all happen had already 'vanished utterly into the mists of oblivion.' Elsewhere in North America, offshore wind seems to have ignominiously retreated into those same mists, without the faintest trace of glory. The Biden administration had hoped to deploy more than 30 gigawatts of offshore wind capacity by 2030. More than 37 gigawatts of offshore capacity were planned to start up by 2032, according to S&P Global Market Intelligence, an industry research and data provider. But Mr. Trump is determined to end all that. He issued an executive order on his first day of office barring issuance of leases for offshore wind projects anywhere on the U.S.'s continental shelf. Interior Secretary Doug Burgum even halted a 54-turbine project, Empire Wind 1, that was already under construction. It's a reminder that offshore wind projects take many years to complete, leaving them vulnerable to shifting political breezes. Mr. Timmins said he was optimistic that with sustained federal-provincial co-operation, Nova Scotia can realize its plans. 'If Canada and Nova Scotia turn their minds to this and want to make this happen, it can happen.'
