SBM Offshore announced it has signed contracts with Chinese shipyards for the construction of the company’s fourth and fifth hulls under its purchase program for Fast4Ward newbuild multipurpose floating production, storage and offloading unit (FPSO) hulls.
The contracts were signed with Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS) and China Merchants Industry Holdings (CMIH). Both yards are also progressing the construction of SBM Offshore’s first three hulls which are already allocated to projects in Guyana and Brazil.
SBM Offshore’s Fast4Ward program incorporates the company’s newbuild, multipurpose hull combined with several standardized topsides modules in an effort to reduce project costs and lead times.
Bruno Chabas, CEO of SBM Offshore, said, “We continue to have good visibility on new awards from active client engagements. This has given the company the comfort to accelerate the program and commit to two additional Fast4Ward hulls. The company is currently constructing five hulls simultaneously, a fact which underscores the fundamentals of our market and SBM Offshore’s competitive position. During this period of increasing demand, SBM Offshore remains disciplined and selective with respect to market opportunities.”