Seatrium Limited announced on October 30, 2026, that it has won an FPSO integration contract from SBM Offshore N.V. worth more than USD 156.29 million. The Floating Production Storage and Offloading vessel at the centre of the deal will serve offshore developments in South America, according to the Singapore-headquartered engineering group.

The company said the award reflects the continued confidence SBM Offshore places in its offshore engineering, construction, and integration capabilities, and it strengthens the Group's position in delivering complex FPSO integration projects for leading offshore energy customers.

What the Contract Covers

Seatrium's work spans a broad range of activities. The Group will fabricate key mooring and riser support structures, a flare tower, and associated topside support structures.

It will also carry out vessel modification and drydocking before integrating the topside modules onto the vessel.

The scope does not end at integration. Seatrium will perform mechanical completion activities and selected pre-commissioning works and will provide support for commissioning and sea trials.

Execution is set to begin in the fourth quarter of 2026, with completion targeted for 2029.

Management Points to Delivery Record

Mr. Marlin Khiew, Executive Vice President of Seatrium Energy (Projects) and President, LATAM, said the award reinforces the longstanding partnership between the two companies and reflects the strength of Seatrium's execution capabilities on complex FPSO projects.

He said the Group draws on experience and lessons learned from previous projects, along with its engineering expertise and an established track record of delivering with certainty.

Khiew added that Seatrium is proud to support South America's offshore development and its growing role in global energy supply, which he said contributes to greater energy security and long-term economic growth.

A Partnership Built Over Multiple Projects

The press release describing the award states that it reinforces the longstanding relationship between Seatrium and SBM Offshore, a global leader in floating production solutions.

The announcement was made in Singapore, where both the awarding announcement and Seatrium's headquarters are based.

Seatrium describes itself as a leading provider of specialised engineering solutions for the global offshore, marine, and energy sectors and says it plays a pivotal role in delivering offshore energy infrastructure assets that form the backbone of some of the world's essential energy systems.

The Group Behind the Contract

Seatrium Limited is headquartered and listed in Singapore. The company says it brings more than 60 years of proven expertise and operates in 15 countries through an integrated network of advanced yards, engineering and technology centres, employing a workforce of more than 24,000 people.

Its core business segments cover Oil & Gas Newbuilds and Conversions, Offshore Wind, and Repairs & Upgrades. The Group's product portfolio includes FPSOs, FPUs, Offshore Converter Platforms and a range of offshore installation vessels.

Positioning for the Energy Transition

According to the company, its diversified business positions it to play a critical role in the global energy transition.

Seatrium cites longstanding relationships with the world's largest energy majors, asset operators and owners, and Transmission System Operators, which it says demonstrate its ability to deliver consistently high standards of safety, quality, and timeliness.

The Group also states that it has robust capabilities in developing new technologies and solutions, including Carbon Capture & Storage and New Energies.

Guided by a culture of innovation and core values centred on people, safety, and sustainability, Seatrium says it strives to create enduring value for all stakeholders.

Timeline and Key Figures

The contract value exceeds USD 156.29 million and was awarded by SBM Offshore N.V. The FPSO will support offshore developments in South America.

Work starts in the fourth quarter of 2026 and is scheduled for completion in 2029, covering fabrication, vessel modification and drydocking, topside module integration, mechanical completion, selected pre-commissioning works, and support for commissioning and sea trials.