SBM Offshore has entered into an agreement with Shell for a five years' extension for the lease and operate contracts of the floating production storage and offloading unit (FPSO) Espirito Santo located in Brazil.
The end of the contractual lease and operate period was extended from December 2023 to December 2028. SBM Offshore is the majority owner of the lease and operating companies related to Espirito Santo with 51 per cent equity ownership, together with MISC with 49 per cent equity ownership.
ExxonMobil affiliate Esso Exploration and Production Guyana has also initiated discussions with SBM Offshore about potentially extending the lease and operate durations for its FPSOs in Guyana.
