Dutch-based offshore energy firm SBM Offshore is advancing a portfolio of major deepwater oil production projects across Guyana, Suriname and Brazil, centered on its specialized Floating Production Storage and Offloading (FPSO) vessels purpose-built for offshore extraction.
FPSOs are innovative floating vessels that integrate three core functions: offshore crude oil extraction, on-board processing, and storage before offloading for transportation. Unlike fixed offshore oil platforms, FPSOs unlock access to deepwater oil reserves that cannot be developed with permanent static infrastructure, making them a critical asset for modern offshore energy development.
In Suriname, SBM Offshore is currently constructing the GranMorgu FPSO, which is scheduled to begin commercial operations at the Block 58 oil field in 2028. Block 58 is operated by French energy major TotalEnergies, and the GranMorgu vessel will have a daily production capacity of 220,000 barrels of crude oil, placing it among the higher-capacity FPSOs deployed in the region.
Neighboring Guyana, one of the world’s fastest-growing new oil production hubs, is home to multiple ongoing SBM Offshore projects. The firm is building the Jaguar FPSO, which is on track to start production for US energy giant ExxonMobil in 2027. The Jaguar vessel boasts an even larger daily capacity of 250,000 barrels of crude. Additionally, SBM Offshore has completed the initial design phase for a second Guyanese project, the Longtail FPSO, which is currently awaiting final regulatory approval from the Guyanese government to move into construction.
Further west in Brazil, SBM Offshore is developing two new FPSOs, the SEAP-I and SEAP-II, for deployment in the Sergipe-Alagoas Basin. Both vessels are scheduled to launch production in 2030, with each holding a daily processing capacity of approximately 120,000 barrels of crude oil.
To streamline delivery across this busy project pipeline, SBM Offshore is leveraging its proprietary Fast4Ward construction program, a standardized, modular building approach designed to cut construction timelines and improve operational efficiency. The program is structured to help the firm deliver all active projects on their scheduled opening dates, even amid the high demand for new offshore energy infrastructure across South America.