SBM Offshore signs contract extension of FPSOs Mondo and Saxi Batuque
MWN-AI** Summary
SBM Offshore has announced a significant contract extension for the lease and operation of its Floating Production Storage and Offloading (FPSO) units, Mondo and Saxi Batuque, with Esso Exploration Angola (Block 15) Limited, an affiliate of ExxonMobil. The extension will ensure that SBM Offshore retains ownership and operations of these assets until 2032, reinforcing its commitment to the Angolan energy sector.
This renewed agreement includes a comprehensive scope of life-extension activities, focusing on equipment refurbishment and replacement to uphold safety standards and operational excellence. Work is slated to commence in 2026, further demonstrating SBM Offshore’s expertise in managing complex offshore brownfield projects and its capacity for maintaining deepwater assets.
CEO Øivind Tangen expressed enthusiasm for the contract's renewal, emphasizing its importance in preserving jobs for their teams and the value it generates for the Angolan energy industry. With over three decades of operational presence in Angola, SBM Offshore is set to continue contributing to the industry’s growth and sustainability goals.
SBM Offshore's holistic approach in advancing cleaner energy solutions positions it as an integral player in the global market. The company’s strategic focus on balancing ocean protection with energy progress is evident through its commitment to sustainable operations, supported by a dedicated workforce of over 7,800 employees.
As SBM Offshore prepares for future developments, it invites stakeholders to stay informed, with key financial dates outlined for the upcoming year, including earnings releases and annual meetings. The company assures that despite potential future uncertainties, it remains committed to delivering innovative solutions for offshore operations. For more details, interested parties can visit SBM Offshore’s website.
MWN-AI** Analysis
SBM Offshore's recent contract extension for the FPSOs Mondo and Saxi Batuque with Esso Exploration Angola underscores the company's strong positioning in the offshore energy sector. Securing these contracts until 2032, along with plans for life-extension activities, demonstrates SBM's operational expertise and reliability as a key player in deepwater infrastructure.
Investors should view this extension positively, as it not only promises stable revenue streams but also signifies SBM's strong relationship with major industry players like ExxonMobil. The commitment to high safety standards and operational excellence enhances SBM's credibility and mitigates risks associated with offshore operations, factors that can lead to long-term investor confidence.
Furthermore, the extension aligns with broader energy market trends focusing on sustainability and efficient resource management. As SBM Offshore invests in modernizing its floating production facilities, it positions itself well within the evolving landscape of energy demand—a move likely to attract ethical investors who prioritize companies committed to sustainable practices.
Looking ahead, investors should keep an eye on SBM's upcoming financial calendar for insights into its performance—particularly the Full Year 2025 Earnings, set to release in February 2026. This upcoming report will provide crucial data on how the contract extensions are impacting financial metrics, including revenue growth and operational costs.
In conclusion, the contract extension with Esso Exploration reflects SBM Offshore's robust operational capabilities and strategic importance in the Angola energy sector. Investors considering entering or increasing their stake in SBM Offshore may find this development encouraging, given the potential for sustained revenue and the company’s commitment to safer, more efficient energy production. However, they should also remain mindful of industry-specific risks highlighted in SBM’s forward-looking statements, which could influence future performance.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Amsterdam, December 17, 2025
SBM Offshore announces it has signed a contract extension related to the lease and operation of FPSOs Mondo and Saxi Batuque with Esso Exploration Angola (Block 15) Limited, as the Operator of Block 15, an affiliate of ExxonMobil. The extension secures ownership and operations by SBM Offshore until 2032.
The agreement includes life-extension activities, for equipment replacement and refurbishment, to maintain high safety standards and ensure operational excellence throughout the contract term. The scope of work is expected to start in 2026.
The extension of the contract marks a recognition of SBM Offshore’s capability to manage complex offshore brownfield work as well as its capabilities in the operation and maintenance of deepwater assets. Through these contracts, SBM Offshore supports Block 15 Contractor Group’s offshore energy objectives in Angola while contributing to the long-term growth in the region.
Esso Exploration Angola (Block 15) Limited is the operator of Block 15. Other Block 15 Co-Venturers are Azule Angola Limited, Azule Angola BV, Equinor Angola Block 15 A.S. and Sonangol E&P.
Øivind Tangen, CEO of SBM Offshore, commented:
“We are very pleased with the contract extension of FPSOs Mondo and Saxi Batuque. This allows us to maintain our structure and scale in Angola, and most importantly to provide job security to our teams. Through this extension, SBM Offshore will continue to generate value to the Angolan energy industry, as we have been for the last three decades. We remain committed to the continued safe and reliable operations through this extension period.”
Corporate Profile
SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.
More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Full Year 2025 Earnings | February 26 | 2026 | |
| Annual General Meeting | April 15 | 2026 | |
| First Quarter 2026 Trading Update | May 7 | 2026 | |
| Half Year 2026 Earnings | August 6 | 2026 | |
| Third Quarter 2026 Trading Update | November 12 | 2026 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Phone: | +31 (0)20 236 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Giampaolo Arghittu
Head of External Relations
| Phone: | +31 (0)6 212 62 333 / +39 33 494 79 584 |
| E-mail: | giampaolo.arghittu@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half Year Management Report accompanying the Half Year Earnings 2025 report, available on our website Half Year Earnings - SBM Offshore.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®” and “F4W®” are proprietary marks owned by SBM Offshore.
Attachment
FAQ**
How does the contract extension with Esso Exploration Angola impact the financial stability and future growth prospects of SBM Offshore NV ADR SBFFY in the competitive offshore energy market?
What specific life-extension activities will SBM Offshore NV ADR SBFFY undertake to ensure safety and operational excellence for FPSOs Mondo and Saxi Batuque during the contract extension period?
In what ways does SBM Offshore NV ADR SBFFY plan to innovate its operations to navigate the potential risks and uncertainties associated with the offshore energy sector through 2032?
How will the contract extension for FPSOs Mondo and Saxi Batuque reinforce SBM Offshore NV ADR SBFFY's commitment to sustainable energy practices and support the long-term growth of Angola's energy industry?
**MWN-AI FAQ is based on asking OpenAI questions about SBM Offshore NV ADR (OTC: SBFFY).
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