SBM Offshore is positioning itself for significant deepwater developments in Namibia as part of its strategic outlook for 2025 and beyond, capitalizing on its strong project visibility in the offshore sector.
The company is confident in the promising outlook for key markets such as Brazil, Guyana, Suriname, and Namibia, driven by ongoing exploration activities.
“As deepwater developments often emerge after years of extensive exploration, we already have strong visibility on projects for 2025 and 2026.
Notable projects include Petrobras’ developments in Brazil, Total’s progress in Namibia, and Exxon’s plans in Guyana,” said SBM Offshore’s CEO, Oivind Tangen.
Tangen remains optimistic about the deepwater project outlook, citing their low break-even prices and low emission intensity.
Over the next three years, SBM Offshore expects to be involved in 16 large and complex Floating Production Storage and Offloading (FPSO) unit projects, with considerable opportunities in Namibia.
To meet this growing demand, SBM Offshore has expanded its infrastructure. “We’ve placed an order for our 10th MPF hull, ensuring we have two hulls available to support our tendering activities. We’ll continue to be selective, focusing on the highest quality projects,” Tangen added.
In its pursuit of diversification and decarbonization, SBM Offshore has made significant moves. In 2024, the company formed a joint venture, Ekwil, with Technip Energies to enhance its floating offshore wind capabilities.
Furthermore, in early 2025, SBM Offshore secured a minority equity investment in Ocean Power, aiming to provide lower-emission power solutions.
“As the world’s leader in ocean infrastructure, we are leveraging our expertise to diversify and decarbonize our offshore solutions,” Tangen remarked.
SBM Offshore has also advanced technological innovations in the FPSO sector, including a market-ready near-zero emission FPSO.
Additionally, the company recently secured a contract with Petrobras to qualify its Carbon Capture Module technology for FPSOs.
Looking ahead, Tangen highlighted SBM Offshore’s strategic positioning for future growth. “As we approach the 2025–2026 period, we see distinct prospects in three key markets where SBM Offshore plays a strategic role.
Beyond 2027, we’ll continue to engage with international oil companies and monitor emerging opportunities,” he said.
With a focus on maintaining industry momentum, SBM Offshore is committed to sustaining strong partnerships and aligning with key market commitments. “For future FPSO projects, maintaining strong partnerships and aligning with industry commitments will be key to our continued success,” Tangen concluded.
