Offshore staff
MONACO — SBM Offshore has completed its acquisition of the shares in the lease and operating entities in Angola related to three FPSOs from its partner Sonangol EP.
At the same time, the company closed the sale of all its shares in the parent company of the Paenal shipyard in Angola, a subsidiary of Sonangol EP.
Following the transactions, SBM Offshore now has 100% control of the entities owning the FPSOs Saxi Batuque and Mondo, and 80% in the entity owning the FPSO N’Goma. It will also gain full ownership of all the operating companies.
In addition, SBM Offshore signed a memorandum of understanding with its minority partner in the N’Goma, Angola Offshore Services, under which the latter will purchase 20% of SBM Offshore’s 80% interest in the entity owning the FPSO.
Clearance for the deal will require consent from clients and lenders and approval by the various competent authorities.
SBM Offshore said it could now focus on core lease and operating activities in Angola while divesting a non-core construction yard.
06.13.2024
