SBM Offshore Divests Minority Stake in Chalchi FSO to NYK

Dutch floater specialist SBM Offshore has agreed to divest a 45% minority interest in the Chalchi floating storage and offloading (FSO) vessel to long-standing business partner Nippon Yusen Kabushiki Kaisha (NYK) of Japan. The transaction involves the sale of a stake in the special purpose companies related to the lease and operation of the Chalchi FSO, which is destined for Woodside Energy’s Trion field development offshore Mexico. SBM will retain a 55% majority ownership interest, and the proposed divestment remains subject to several conditions precedent and approvals.

Vessel Specifications and Contract Details

The Chalchi FSO is currently under construction and will be operated under 20-year lease and operate contracts with Woodside’s Mexican affiliate companies. The newbuild FSO is based on a Suezmax-type hull and will be equipped with a disconnectable turret mooring system designed by SBM. The floater is being built at COSCO’s yard in Qidong, China, and will be moored in a water depth of approximately 2,500 meters, with a storage capacity of around 950,000 barrels of crude oil.

Trion Field Development Context

Woodside is developing the Trion field, located 180 kilometers offshore Mexico and 30 kilometers south of the US-Mexico maritime border. The Australian company operates the asset with a 60% stake on behalf of sole partner state-owned Pemex, which holds the remaining 40% interest.