Amsterdam, December 17, 2025 SBM Offshore confirms it has completed the transaction related to the Share Purchase Agreement announced on June 4, 2025, for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol. SBM Offshore’s 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. Corporate Profile SBM Offshore is the world’s deepwat ...

Core Viewpoint - BW Offshore has signed a Head of Agreement with Equinor for the Bay du Nord FPSO project, marking a significant step in Canada's first deepwater oil project, which is estimated to hold 400 million barrels of recoverable light crude [1][4]. Group 1: Project Details - The FPSO unit is designed to support production of up to 160,000 barrels of oil per day and will incorporate advanced features such as a disconnectable turret system and extensive winterization [3]. - Emission reduction initiatives will be included in the FPSO's design, such as high-efficiency power generation, heat recovery, variable speed drives, and a closed flare system [3]. - The project will undergo a Front End Engineering Design (FEED) phase, with BW Offshore establishing a local office in Newfoundland to facilitate this process [4]. Group 2: Strategic Importance - This project aligns with BW Offshore's strategy to deliver high-performance offshore solutions and supports the future of energy [5]. - The selection by Equinor reflects confidence in BW Offshore's capabilities and commitment to value creation, safety, and local engagement throughout the project [4].