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SBM Offshore & FPSOs Confirms Participation in Auction

Gasoil News - Published on Thu, 03 Oct 2019

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Following the public sale notice by Servicos de Petroleo Constellation SA, formerly Queiroz Galvao Oleo e Gas SA, of its equity ownership in the lease and operating companies related to five Brazilian FPSOs, SBM Offshore confirms that it will participate in this sealed bids competitive process. The auction consists of the minority stake held by affiliated companies of Constellation in the entities related to the following five FPSOs with Constellation’s ownership percentage in brackets: Cidade de Paraty of 20%, Cidade de Ilhabela of 12.75%, Cidade de Marica of 5%, Cidade de Saquarema of 5% and Capixaba of 20%.

SBM Offshore is already the majority shareholder of the related entities and operator of these FPSOs. To enable an efficient continuation of the sales process for all parties involved in case SBM Offshore is successful bidder, SBM Offshore has reached an agreement in principle with Constellation with respect to the terms of the contemplated transaction. This agreement remains conditional upon the outcome of the competitive auction process.

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Posted By : Rabi Wangkhem on Thu, 03 Oct 2019
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