BOMESC Subsidiary Signs SBM Contract for FPSO Topside Module Construction Worth 1.6 Billion to 2.1 Billion Yuan

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Summary · why it matters

BOMESC's wholly owned subsidiary Tianjin BOMESC Offshore Engineering Company Limited has signed a contract with Single Buoy Moorings Inc. for the construction of topside modules for a floating production storage and offloading vessel. The contract value is approximately 1.6 billion to 2.1 billion yuan, and the FPSO will be deployed in South America upon completion. The contract effective date is September 24, 2026, with completion planned for the second half of 2028. Delivery will be free on board at the company's dock, and module construction will be carried out at the company's Lingang Offshore Heavy Industry construction base. The contract value consists of a fixed price portion plus a variable price portion calculated based on the currently estimated workload, with final settlement based on the actual completed workload confirmed by both parties at contract close. The counterparty SBM is a wholly owned subsidiary of SBM Offshore established in Switzerland. SBM Offshore is headquartered in the Netherlands and specializes in the design, construction, installation, operation, and maintenance of offshore floating production facilities. Nearly 100 percent of Tianjin BOMESC's business comes from international clients. The company previously delivered the FPSO SEPETIBA for SBM, the first FPSO project in which hull construction, topside module fabrication, and final assembly were all completed domestically in China. In January 2025, it also signed a contract with STS VOF for FPSO topside module construction worth 750 million to 1 billion yuan, marking its entry into the Suriname FPSO market.

Impact on assets 2

Energy▲ · 1 stocks
SBM Offshore N.V.
SBMO
± Mixedrelevance

SBM is the counterparty awarding the contract, but the article does not assess any impact on SBM Offshore itself.

Others▲ · 1 stocks
Bomesc Offshore Engineering Co
603727
▲ PositiveDemandrelevance

Wholly owned subsidiary Tianjin BOMESC signed a 1.6-2.1 billion yuan FPSO topside module construction contract with SBM, a concrete new order.

Off-coverage companies 2

天津博迈科海洋工程有限公司Private▲ Positive
Demandrelevance

Tianjin BOMESC Offshore Engineering signed the FPSO topside module contract worth 1.6-2.1 billion yuan with SBM.

STS VOFPrivate± Mixed
relevance

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