SBM Offshore said today it intends to bid for the interests held by Brazil's Servicos de Petroleo Constellation in five floating production, storage and offloading vessels.
SBM said the five FPSOs are Cidade de Paraty, Cidade de Ilhabela, Cidade de Marica, Cidade de Saquarema and Capixaba.
Constellation's ownership interest in each is 20%, 12.75%, 5%, 5% and 20%, respectively.
SBM said that following the public sale notice by Constellation, formerly Queiroz Galvao Oleo e Gas, of its equity ownership in the lease and operating companies related to the five floaters, SBM confirmed it would participate in the sealed bids competitive process.
SBM is already the majority shareholder of the related entities and operator of these FPSOs.
"To enable an efficient continuation of the sales process for all parties involved in case SBM Offshore is successful bidder, SBM Offshore has reached an agreement in principle with Constellation with respect to the terms of the contemplated transaction. This agreement remains conditional upon the outcome of the competitive auction process," said SBM.
