SBM Offshore : Sale of first Fast4Ward FPSO clear catalyst for potential re-rating
>Close to sale of Unity & Destiny FPSOs = c. $ 2bn cash-in - Assuming that ExxonMobil in the coming months will make use of its call options to purchase the Unity FPSO (22Q1; nowadays 250k bpd, up from 220k initially) for some $ 1.4bn, and the Destiny FPSO for some $ 0.7bn (19Q4; nowadays 150k bpd, up from 120k initially), we expect SBM Offshore to be able to book the related project gains, and as such to also raise its 2023 guidance. With the bulk of the proceeds exp...SBM Offshore is a holding company. Co. provides floating production solutions to the offshore energy industry, over the full product life-cycle. Co.'s main activities are the design, supply, installation, operation and life extension of floating production, storage and offloading (FPSO) vessels. Other products include semi-submersibles, tension-leg platforms, floating production storage and offloading liquefied natural gas, turret mooring systems, brownfield and offshore (off) loading terminals. As of Dec 31 2015, Co.'s fleet consisted of 10 FPSOs, two floating storage and offloadings, one mobile offshore production unit, one semisubmersible in operation worldwide.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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