SBMO SBM Offshore NV

February 14, 2022

SBM Offshore is pleased to announce that FPSO Liza Unity has produced first oil as of February 11, 2022 and is formally on hire.

The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry leading Fast4Ward® program which incorporates the Company’s new build, multi-purpose floater hull combined with several standardized topsides modules.

The FPSO is installed at the Liza field, which is located circa 200 kilometers offshore Guyana in the Stabroek block. ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

Bruno Chabas, CEO of SBM Offshore, commented:

“We are proud of the fact that FPSO Liza Unity has started production. The FPSO, with its relative low emission intensity will enable efficient production of these world-class oil reserves. The combined client and SBM Offshore team that delivered this project have done an outstanding job. The FPSO was delivered in three and a half years following the start of the engineering phase, which is a significant achievement. It demonstrates the added value our Fast4Ward® concept brings to all stakeholders.” 

Corporate Profile

SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.

More than 5,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

For further information, please visit our website at www.sbmoffshore.com.

The Management BoardAmsterdam, the Netherlands, February 14, 2022

For further information, please contact:

Investor RelationsBert-Jaap DijkstraGroup Treasurer and IR

Media RelationsVincent KempkesGroup Communications Director

Market Abuse Regulation

This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Disclaimer

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Risk Management’ section of the 2021 Annual Report.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4WindTM” are proprietary marks owned by SBM Offshore.

Attachment

• FPSO Liza Unity producing and on hire

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