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SBM Offshore Reports Surge in Revenue Driven by FPSO Sales, Lease Growth

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SBM Offshore posted a massive jump in H1 revenue on Thursday, fueled by strong directional turnkey sales, including the floating production storage offloading unit One Guyana delivery, and a 21% increase in lease and operate segment.

Directional turnkey revenue surged to $3.71 billion, compared with $1.32 billion in H1 of 2025.

This increase was driven by the sale of FPSO One Guyana in February 2026, the 45% divestment of FSO Chalchi to Nippon Yusen Kabushiki Kaisha in June, new contract awards for FPSOs SEAP I and SEAP II alongside Front End Engineering and Design contracts for the Longtail project, and construction progress on FPSO GranMorgu.

Concurrently, directional lease and operate revenue rose 21% year-over-year to $1.19 billion.

This growth was fueled by contributions from the newly delivered FPSO Almirante Tamandare and FPSO Alexandre de Gusmao, continued operating revenue from FPSO One Guyana following its client purchase, and improved fleet performance.

Looking ahead, the company remains confident in the long-term deepwater market, supported by active tendering and demand for advanced FPSO solutions.

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