SBM Offshore completes US$1.5 billion financing of Jaguar
SBM Offshore has successfully completed a US$1.5 billion project financing for FPSO Jaguar, secured by 16 international financial institutions. The FPSO Jaguar, based on SBM's Fast4Ward® program, will have a production capacity of 250,000 barrels of oil per day, gas treatment capacity of 540 million cubic feet per day, and water injection capacity of 300,000 barrels per day. The vessel will operate in the Whiptail development within the Stabroek block offshore Guyana, with storage capacity of 2 million barrels of crude oil. This marks the company's first project under the sale and operate model.
SBM Offshore ha completato con successo un finanziamento per un progetto da 1,5 miliardi di dollari per l'FPSO Jaguar, garantito da 16 istituzioni finanziarie internazionali. L'FPSO Jaguar, basato sul programma Fast4Ward® di SBM, avrà una capacità di produzione di 250.000 barili di petrolio al giorno, una capacità di trattamento del gas di 540 milioni di piedi cubi al giorno e una capacità di iniezione d'acqua di 300.000 barili al giorno. L'imbarcazione opererà nello sviluppo Whiptail all'interno del blocco Stabroek al largo della Guyana, con una capacità di stoccaggio di 2 milioni di barili di petrolio greggio. Questo segna il primo progetto dell'azienda secondo il modello di vendita e operazione.
SBM Offshore ha completado con éxito un financiamiento de proyecto de 1.5 mil millones de dólares para el FPSO Jaguar, respaldado por 16 instituciones financieras internacionales. El FPSO Jaguar, basado en el programa Fast4Ward® de SBM, tendrá una capacidad de producción de 250,000 barriles de petróleo por día, una capacidad de tratamiento de gas de 540 millones de pies cúbicos por día y una capacidad de inyección de agua de 300,000 barriles por día. La embarcación operará en el desarrollo Whiptail dentro del bloque Stabroek en alta mar, con una capacidad de almacenamiento de 2 millones de barriles de crudo. Esto marca el primer proyecto de la empresa bajo el modelo de venta y operación.
SBM Offshore는 16개의 국제 금융 기관이 지원하는 15억 달러 규모의 프로젝트 파이낸싱을 성공적으로 완료했습니다. SBM의 Fast4Ward® 프로그램을 기반으로 한 FPSO Jaguar는 일일 250,000배럴의 석유 생산 능력, 일일 5억 4천만 입방피트의 가스 처리 능력, 일일 30만 배럴의 물 주입 능력을 갖추게 됩니다. 이 선박은 가이아나 해상 스태브로크 구역 내 Whiptail 개발 프로젝트에서 운영되며, 원유 저장 용량은 200만 배럴입니다. 이는 회사의 판매 및 운영 모델에 따른 첫 번째 프로젝트입니다.
SBM Offshore a réussi à finaliser un financement de projet de 1,5 milliard de dollars pour le FPSO Jaguar, soutenu par 16 institutions financières internationales. Le FPSO Jaguar, basé sur le programme Fast4Ward® de SBM, aura une capacité de production de 250 000 barils de pétrole par jour, une capacité de traitement du gaz de 540 millions de pieds cubes par jour et une capacité d'injection d'eau de 300 000 barils par jour. Le navire opérera dans le développement Whiptail dans le bloc Stabroek au large de la Guyane, avec une capacité de stockage de 2 millions de barils de pétrole brut. Cela marque le premier projet de l'entreprise selon le modèle de vente et d'exploitation.
SBM Offshore hat erfolgreich eine Projektfinanzierung in Höhe von 1,5 Milliarden US-Dollar für das FPSO Jaguar abgeschlossen, gesichert durch 16 internationale Finanzinstitute. Das FPSO Jaguar, das auf dem Fast4Ward®-Programm von SBM basiert, wird eine Produktionskapazität von 250.000 Barrel Öl pro Tag, eine Gasbehandlungs kapazität von 540 Millionen Kubikfuß pro Tag und eine Wasser injektionskapazität von 300.000 Barrel pro Tag haben. Das Fahrzeug wird in der Whiptail-Entwicklung innerhalb des Stabroek-Blocks vor der Küste von Guyana betrieben, mit einer Speicherkapazität von 2 Millionen Barrel Rohöl. Dies markiert das erste Projekt des Unternehmens unter dem Verkaufs- und Betriebsmodell.
- Secured US$1.5 billion project financing from 16 financial institutions
- First successful project under the sale and operate model
- High-capacity FPSO with 250,000 barrels per day production capability
- Large storage capacity of 2 million barrels of crude oil
- None.
Amsterdam, November 21, 2024
SBM Offshore announces it has completed the project financing of FPSO Jaguar for a total of US
The project financing was fully secured by a consortium of 16 international financial institutions. The Company expects to draw the loan phased over the construction period of the FPSO. The project loan is in line with the duration of the construction phase.
The FPSO Jaguar’s design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s seventh new build, multi-purpose floater hull combined with several standardized topsides modules. The FPSO is designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 540 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,630 meters and will be able to store around 2 million barrels of crude oil.
The project is part of the Whiptail development, which is the sixth development within the Stabroek block, circa 200 kilometers offshore Guyana. ExxonMobil Guyana Ltd, an affiliate of ExxonMobil Corporation, is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited, holds a 25 percent interest.
Douglas Wood, CFO of SBM Offshore, commented:
“I am proud of our teams which have successfully secured the project financing of FPSO Jaguar, the Company’s first project under the sale and operate model. We are demonstrating once again the value of our unique lifecycle offering not only from an execution and operation standpoint but also in our ability to continue to provide material financing solutions for our clients. We appreciate the continued support from the 16 financial institutions.”
Corporate Profile
SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.
More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Full Year 2024 Earnings | | February 20 | 2025 |
| Annual General Meeting | | April 9 | 2025 |
| First Quarter 2025 Trading Update | | May 15 | 2025 |
| Half Year 2025 Earnings | | August 7 | 2025 |
| Third Quarter 2025 Trading Update | | November 13 | 2025 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Phone: | +31 (0)20 236 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Giampaolo Arghittu
Head of External Relations
| Phone: | +31 (0)6 212 62 333 / +39 33 494 79 584 |
| E-mail: | giampaolo.arghittu@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
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Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.
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FAQ
What is the total financing secured for FPSO Jaguar by SBM Offshore (SBFFF)?
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