The Chinese marine engineering company, BOMESC, has secured a contract valued between 1.6 to 2.1 billion yuan (equivalent to 225 to 295 million dollars) from SBM Offshore for work on an FPSO (Floating Production Storage and Offloading) heading to South America.
Contract Details
BOMESC announced that its wholly-owned subsidiary, Tianjin BOMESC Offshore Engineering, has signed this contract with Single Buoy Moorings, the operational subsidiary of SBM Offshore. The scope of work includes the design, procurement, and construction of surface modules for the FPSO, with the construction of these modules taking place at BOMESC's marine engineering base in Tianjin. This contract is expected to be completed in the second half of 2028.
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Financial Details and Collaboration Background
BOMESC stated that the final value of the contract depends on the actual volume of work performed. The contract includes a fixed portion and a variable portion, so the final amount will be determined upon completion of the work. BOMESC did not disclose the name of the FPSO or the project that this unit will serve, only mentioning that the unit is intended for operations in South America.
This contract represents a significant agreement for BOMESC, as the upper estimate of its value exceeds the reported revenue of the company for the year 2025. BOMESC has previously collaborated with SBM Offshore on several FPSO projects and has supplied surface modules for units stationed near the coasts of Brazil. Among the previous works of this company for the Dutch floating specialist is the FPSO Sepetiba, which was built for the development of Petrobras' Mero in the Santos Basin of Brazil.
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