SBM Offshore has completed the divestment of its equity interest in FPSO Aseng to GEPetrol, aligning with its strategy to streamline its operations and focus on sustainable energy advancements.

Target Information

On December 17, 2025, SBM Offshore finalized the Share Purchase Agreement with GEPetrol, marking the complete divestment of SBM Offshore’s equity interest in the FPSO Aseng lease and operating entities. This sale, first announced on June 4, 2025, aligns with SBM Offshore's strategic initiative to streamline its Lease & Operate portfolio, similar to other transactions recently undertaken by the company.

Industry Overview in Equatorial Guinea

Equatorial Guinea's oil and gas sector plays a critical role in the nation’s economy, contributing significantly to its GDP and export revenues. The country is rich in hydrocarbon resources, primarily oil and natural gas, which attract multinational corporations seeking exploration and production opportunities. The government has fostered partnerships with various foreign companies to enhance local expertise and technical capabilities, particularly in deepwater projects.

In recent years, however, the local industry has faced challenges due to fluctuating global oil prices and a need for more sustainable practices to meet global energy transitions. To adapt, the nation is implementing reforms aimed at promoti