SBM Offshore

Company Description

SBM Offshore designs, builds, and operates Floating Production Storage and Offloading (FPSO) vessels—essentially floating oil and gas factories that sit above offshore oil fields, process crude oil, and store it until tankers arrive to transport it to refineries. The company owns and operates the world's largest fleet of FPSOs. Unlike traditional offshore platforms fixed to the seabed, FPSOs can be moved between oil fields and operate in deep waters where fixed platforms aren't practical. SBM Offshore either sells these vessels to oil companies or, more commonly, leases and operates them under long-term contracts—generating steady, predictable revenue streams. The company also provides design and engineering services, turnkey vessel construction, and maintenance. Founded in 1965 and headquartered in Amsterdam (with major operations in Monaco, Kuala Lumpur, Houston, Bengaluru, and Brazil), SBM Offshore has been a member of the AEX index since 2003. The company was a pioneer in the lease-and-operate model for offshore production, fundamentally changing how the oil industry develops deepwater resources. With over 8,000 employees worldwide, SBM Offshore is experiencing strong growth driven by major projects in Brazil, Guyana, and increasingly Suriname and Namibia. In 2025, the company became the first FPSO operator in Suriname through a contract with TotalEnergies. Under CEO Øivind Tangen (who took over in 2024), SBM Offshore is also investing in floating wind solutions and carbon capture technology, positioning for the energy transition while maintaining its core oil and gas business.