SBM Offshore contracts Tianjin BOMESC for FPSO modules

SBM Offshore has signed a contract with Tianjin BOMESC Offshore Engineering, a subsidiary of China-based BOMESC Offshore Engineering, for the design, procurement, and construction of topside modules. These modules are intended for a floating production, storage, and offloading (FPSO) vessel destined for South America.

The contract, which took effect on September 24, is valued between $240 million and $312 million (1.6 billion to 2.1 billion yuan). The final total will depend on the actual workload completed and confirmed by both parties. Construction will take place at the Lingang Offshore Heavy Industry Construction Base, with completion expected in the second half of 2028.

This agreement builds on previous collaborations between the two companies, such as the FPSO Sepetiba project. The contract includes a fixed-price portion and a variable component, with liquidated damages for delays capped at 10% of the contract value.