SBM Offshore sells 45% Chalchi FSO stake to NYK, securing 20-year Woodside lease
WDS•SBM Offshore agreed to sell 45% of its Chalchi FSO operating entities to Nippon Yusen Kabushiki Kaisha, retaining 55% post-approvals. The Suezmax-hulled vessel will store 950,000 barrels and serve Woodside Energy’s Mexican affiliate under a 20-year lease at the Trion field.
1. Sale agreement details
SBM Offshore has signed a shareholders’ agreement with Nippon Yusen Kabushiki Kaisha to sell 45% of the special purpose companies that will lease and operate the Chalchi FSO, subject to regulatory approvals, with SBM retaining a 55% majority holding.
2. Vessel specifications and lease
The Chalchi FSO, built on a Suezmax-type hull featuring a disconnectable turret mooring system, is designed to store nearly 950,000 barrels of crude and will operate under a 20-year charter for Woodside Energy’s Mexican affiliate.
3. Trion field deployment
Scheduled for deployment at the Trion field—located about 180 kilometres off the Mexican coast in 2,500 metres of water—the unit will support production in a joint venture where Woodside holds 60% and Petróleos Mexicanos holds 40%.
4. New deepwater installation vessel JV
Separately, SBM Offshore and Solstad Offshore have formed a joint venture and signed a letter of intent with a shipyard to construct a new deepwater installation and construction vessel, expected for delivery in the first half of 2029, to assist with future FPSO installations.
