SBM’s US$470M windfall tied to Guyana FPSO deal

Feb 27, 2026 News

…as company unveils US$2.1B payout plan

Dutch offshore oil services giant SBM Offshore has announced a record US$470 million in shareholder returns for 2025— a 57% surge year-on-year following strong operational performance and the early sale of the FPSO ONE GUYANA to ExxonMobil.

The Amsterdam-based floating production specialist said it would pay $2.57 per share through a US$200 million dividend and a US$270 million share buyback programme.

Contracted cash flows over the next six years will “more than cover” the plan to boost shareholder returns,” financial officer Douglas Wood told Reuters in an interview. “There’s even some upside from the contracts that we already have on our order book.” SBM Offshore’s directional earnings before interest, taxes, depreciation, and amortisation stood at US$1.7 billion in 2025, beating analysts’ estimate of US$1.65 billion, as per a company poll.

The company uses directional reporting, which books revenue from construction-phase payments before leases begin.

The firm’s directional order backlog fell to US$31.1 billion at year-end from US$35.1 billion a year earlier, as the early sale of FPSO ONE GUYANA reduced revenue expectations.

“If we win new awards, we should start to see the backlog rebuild this year,” Wood said.

SBM expects directional revenue at a baseline of around $6.5 billion in 2026, and directional operating profit at around $1.8 billion. CEO Oivind Tangen, when asked about recent U.S. tariff-induced volatility, said it is reinforcing oil and gas fundamentals in the Atlantic region, making business stronger and more durable. SBM Offshore operates in the deepwater segment, where production costs per barrel are relatively lower than in other offshore regions, shielding it from oil price volatility. (Reuters)

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ExxonMobil, FPSO, FPSO ONE GUYANA, SBM Offshore, windfall

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