SBM Offshore is gaining traction in emerging oil and gas regions, with the Dutch floating production giant actively responding to TotalEnergies’ tender for a floating production, storage, and offloading (FPSO) vessel for the ultra-deepwater Venus development offshore Namibia.
Surging FPSO Demand in Emerging Markets
As major operators ramp up exploration in new frontier basins, SBM is capitalizing on the growing need for FPSOs. The company has already secured new contracts in Suriname and is closely tracking Namibia’s booming offshore sector, where recent discoveries have drawn global attention.
Venus: A Game-Changer for Namibia
Located in 3,000 meters of water, Venus is one of the world’s most significant deepwater finds, with 2 billion barrels of recoverable oil from a total resource estimate of 5.1 billion barrels, according to Namibia’s state oil company, Namcor.
SBM’s involvement in Venus could solidify its position as a key player in Namibia’s emerging offshore industry, reinforcing its foothold in high-impact deepwater projects.
