SBM Offshore sees 16 FPSO opportunities as demand grows for larger, more complex projects

SBM Offshore says it has identified 16 FPSO opportunities over the next three years, while advancing major projects for ExxonMobil, Petrobras, TotalEnergies and APA across Guyana, Brazil and Suriname.

Jeremy Beckman

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SBM Offshore

Nov. 13, 2026

2 min read

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Why this news matters:

SBM Offshore's identification of 16 FPSO opportunities signals continued strength in the global deepwater project pipeline through the end of the decade.
The company is leveraging experience from increasingly large and complex projects, including ExxonMobil's Longtail development and Petrobras' SEAP FPSOs.
Progress on projects in Guyana, Suriname and Mexico highlights ongoing investment in major offshore developments across the Americas.

FPSO Jaguar construction 2024 — In April 2024, SBM Offshore was awarded contracts from ExxonMobil Guyana for the Whiptail development project offshore Guyana. Under these contracts, SBM Offshore constructed and installed FPSO *Jaguar*.

SBM Offshore has identified 16 opportunities for FPSOs for new projects over the next three years.

In the company’s third-quarter trading update, CEO Øivind Tangen said:

“We are well positioned to capture our share of these opportunities, with two unallocated hulls under construction and additional capacity secured through partner yards. We will remain selective, focusing on projects with the right risk-return balance.”

SBM continues to progress the design for the FPSO for ExxonMobil’s Longtail project offshore Guyana.

This will feature the largest gas-handling capacity ever deployed on an FPSO, Tangen said.

“Following the awards of the SEAP I and SEAP II construction contracts [for Petrobras], this demonstrates our ability to execute projects of increasing scale and complexity.”

For the SEAP II FPSO (P-87), construction of the Fast4Ward hull has started at the yard in China. Engineering and procurement continue for the SEAP I FPSO (P-81).

Topsides module lifting has finished for the FPSO Jaguar for the Whiptail project offshore Guyana, with integration and commissioning activities advancing in the run-up to first oil in 2027.

Drydock work has finished on the Fast4Ward hull for the FPSO for TotalEnergies/APA’s GranMorgu development offshore Suriname. Topsides fabrication continues, with construction on track for first oil from the project in 2028.

Construction and drydock work continues for the FSO Chalchi for the deepwater Trion oilfield development offshore Mexico. The turret has been lifted into the FSO hull at the yard in China.

Recycling of the FPSO Capixaba at the M.A.R.S. facility in Denmark is now 98% complete, with the same volume of materials reused or recycled.

About the Author

Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.