SBM Offshore Exits Equatorial Guinea with Aseng FPSO Divestment

Aseng FPSO (Credit: SBM Offshore)
Aseng FPSO (Credit: SBM Offshore)

SBM Offshore has signed a share purchase agreement for the full divestment of its equity interest in the lease and operating entities of the Aseng floating production, storage and offloading (FPSO) unit to GEPetrol.

SBM Offshore’s exit from Equatorial Guinea will take place following an operational transition phase lasting up to 12 months.

According to the company, its sale of its participation in the unit in Equatorial Guinea is in line with its strategy to rationalize its Lease & Operate portfolio, as per other recent transactions.

The agreement remains subject to several conditions precedent and approvals.

The Aseng FPSO has processing capacity for 120,000 barrels of liquids per day, including 80,000 barrels of oil and can handle 170 million standard cubic feet of gas per day. The unit has storage capacity for 1.6 million barrels.

The first oil production by the FPSO was achieved in 2011.

Current News

Iberdrola Picks Up $4.9B to Finance 1.4GW UK Offshore Wind Farm

Iberdrola Picks Up $4.9B to Fi

Perenco Brings Woodside’s Trinidad Oil and Gas Assets Into Its Fold

Perenco Brings Woodside’s Trin

Vallourec Brings CNOOC, Petrochina as New Clients in Iraq

Vallourec Brings CNOOC, Petroc

Germany’s SEFE Inks Three-Year LNG Supply Deal with ADNOC

Germany’s SEFE Inks Three-Year

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine