SBM Offshore has announced that it has entered into a shareholder agreement with its long-standing business partners Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) regarding the divestment of a 35.5% interest in the special purpose companies related to the lease and operation of FPSO Sepetiba.

MC acquired 20% and NYK acquired 15.5% ownership interest in the companies. SBM Offshore is an operator and majority shareholder with the remaining 64.5% ownership interest.

FPSO Sepetiba is currently under construction. The FPSO will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro, under a 22.5 years lease and operate contract with Petróleo Brasileiro S.A. (Petrobras). The delivery of the FPSO is expected in 2022.