SBM Offshore reported record-level revenues and EBITDA for 2024, driven by strategic project wins and a commitment to sustainable practices, positioning the company for continued growth in the oil and gas industry.

Target Information

SBM Offshore, a leading player in the global offshore oil and gas industry, recently showcased exceptional financial performance for the year 2024, achieving record-level Directional revenue of US$6.1 billion, marking a 35% increase compared to the previous year. Additionally, the company reported a record Directional EBITDA of US$1.9 billion, reflecting a remarkable 44% year-over-year growth. This success is attributed to various factors, including the completion of sales for significant Floating Production Storage and Offloading (FPSO) units, as well as the acquisition of three new projects that contributed to an impressive operational backlog totaling US$35.1 billion.

Industry Overview in Target Country

Brazil's offshore oil and gas sector has shown robust growth, driven by advances in deepwater technology and rising global energy demand. With proven reserves in the pre-salt layer and increasing foreign investments, Brazil remains an attractive destination for exploration and production activities. The government's supportive regulatory environment and commitments to sustainable development aim to bolster further investment and technological innovation in the industry.

The demand for FPSOs is expected to increase significantly in the coming years due to Brazil's vast offshore potential. The country's advantageous geographic location and favorable geological conditions for oil extraction increase the feas