SBM Offshore shedding partial stake in Gulf of Mexico-bound FSO

June 5, 2026, by Melisa Cavcic

Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has decided to sell a minority interest to its long-standing business partner Nippon Yusen Kabushiki Kaisha (NYK) in a newbuild floating storage and offloading (FSO) unit, which is destined for deployment at a deepwater oil project off the coast of Mexico, North America.

Trion development concept; Source: Woodside

SBM Offshore has entered into a shareholders’ agreement with Nippon Yusen Kabushiki Kaisha to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the FSO Chalchi, which will work in the Gulf of Mexico. The Dutch firm will remain the majority shareholder with a 55% ownership interest.

While the divestment remains subject to several conditions precedent and approvals, this FSO is currently under construction and will be operated under a 20-year lease and operate contracts with Woodside Energy through its affiliate in Mexico, Woodside Petróleo Operaciones de México.

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Based on a Suezmax-type hull, the new-build FSO will be equipped with a disconnectable turret mooring system designed by SBM Offshore. The unit will be moored in water depth of about 2,500 meters and will be able to store around 950,000 barrels of crude oil.

The FSO will be deployed at the Trion field, located 180 kilometers off the Mexican coastline and 30 kilometers south of the U.S./Mexico maritime border. This project is a joint venture between Woodside (60%, operator) and Petróleos Mexicanos (Pemex, 40%).

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