GEPetrol set to acquire offshore Equatorial Guinea Aseng FPSO

SBM Offshore has signed an agreement to divestment its full equity interest in the lease and operating entities of the FPSO Aseng to Equatorial Guinea’s state-owned GEPetrol.

This will mark SBM’s exit from operations in the country following a transition phase that could last up to 12 months.

The company said the sale was in line with its strategy to rationalize its Lease & Operate portfolio.

The Aseng agreement remains subject to various conditions and securing of approvals.

FPSO Aseng produced first oil in November 2011 on the Aseng Field in offshore Block I in 1,000 m water depth, for Noble Energy (since acquired by Chevron).