Offshore vessel roundup: FPSO growth, LNG progress and strategic alliances

SBM Offshore and BW Offshore marked significant milestones this year with new FPSO deployments and project progress across key offshore regions. Other recent developments highlight growing production capacity, strategic alliances and next-generation vessel concepts shaping the future of offshore energy.

The following is a sampling of the latest vessel news of the offshore oil and gas industry.

Three SBM Offshore FPSOs achieved first oil this year

Three major FPSOs have achieved first oil this year, increasing the company’s fleet to 17 vessels with a total production capacity of 2.7 MMbbl/d of oil, SBM Offshore reported in its latest quarterly update.

Two of the three projects include:

• The FPSO Almirante Tamandaré, which SBM claims is the largest oil-producing unit in Brazil, achieving a record flow equivalent to 270,000 bbl/d of oil in October; and
• The most recent asset to join the fleet, FPSO ONE GUYANA, which the company says is the largest production unit in Guyana with a nameplate capacity of 250,000 bbl/d of oil.

ExxonMobil Guyana has indicated it is contemplating the exercise of its contractual purchase option to acquire FPSO ONE GUYANA in early 2026, ahead of the end of the maximum lease term in August 2027.

SBM also reported that its deepwater construction projects remain on schedule for the:

• FPSO Jaguar for ExxonMobil Guyana (first oil expected in 2027);
• FSO Chalchi with its disconnectable turret for Woodside; and
• FPSO GranMorgu for TotalEnergies. 

In addition, SBM secured approval in principle in September from ABS for the design of a blue ammonia FPSO. 

More recently, SBM and SLB have decided to establish an exclusive digital alliance to optimize performance of their offshore production systems. Together they plan to create an AI-powered “digital ecosystem,” designed to support FPSO digital asset management and leading to improved uptime performance and reduced costs of ownership for offshore operators.

Lastly, SBM is recycling the FPSO Capixaba at Denmark’s M.A.R.S. facility.

BW Opal ready for Barossa LNG startup, Bay du Nord FPSO concept advances

BW Offshore reported that its FPSO fleet in the third quarter had a weighted average fleet uptime of 98.7% (down from 99.9% in the second quarter). During the third quarter, BW Catcher and BW Adolo underwent 14 days and 17 days of scheduled annual maintenance, respectively.

The BW Opal FPSO reached ready-for-startup status in mid-September for the Santos-operated Barossa LNG project. For the FPSO, the provision of operations and maintenance services and corresponding revenue recognition commenced following the full operational readiness of the Darwin supply base.

In early September, BW Offshore signed a heads of agreement with Equinor, as the preferred bidder for the Bay du Nord FPSO for Canada’s first deepwater development offshore Newfoundland and Labrador. Following completion of the pre-FEED phase, BW says the client has exercised the option for a bridging phase focused on further technical and commercial maturation of the FPSO concept. Preparations are underway for the FEED phase, scheduled to begin in early 2026, subject to approvals by Equinor and bp. A contract award is expected by year-end 2026.

Seatrium sells Brazil platform supply vessel entity to Posidonia

Seatrium has agreed to sell its subsidiary Guanabara Navegação Ltda (GNL) to Brazilian vessel operator Posidonia Shipping and Trading for about $77.4 million.

GNL owns two platform supply vessels.

Fast Offshore Supply to supply five newbuild CTVs

Fast Offshore Supply has secured a five-year charter contract offshore Brunei for five new 55-m crew transfer vessels under construction in Singapore and Batam, Indonesia.

The contract is due to start in 2027, and Jakarta-based Wintermar Offshore has participated in a rights issue to support the project.