SBM Offshore and Constellation Oil Services Holding S.A. (“Constellation”) jointly confirm that they have successfully completed the transaction regarding the sale to SBM Offshore of Constellation’s equity ownership in the lease and operating companies related to five Brazilian FPSOs. This follows the announcement by SBM Offshore dated October 18, 2019, confirming SBM Offshore as the successful bidder in the public auction for the equity ownership. SBM Offshore was already the majority shareholder of the related entities and operator of these FPSOs before the transaction was completed.

Upon completion of the transaction SBM Offshore paid the total cash consideration of US$149 million. The completion concludes a successful long-term partnership between the companies which was established in 2004.

About SBM Offshore

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore Group (“the Company”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product lifecycle. The Company is market leading in leased floating production systems delivered to date, with multiple units currently in operation and has unrivalled operational experience in this field. The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry.

As of December 31, 2018, Group companies employ approximately 4,350 people worldwide, including circa 650 contractors, which are spread over offices in key markets, operational shore bases and the offshore fleet of vessels. Group Companies employ a further 400 people, working for the joint ventures with two construction yards.

About Constellation

Constellation is a market leading provider of offshore and onshore oil and gas contract drilling in Brazil through its subsidiary Serviços de Petróleo Constellation S.A. (“Serviços de Petróleo Constellation”).

With continuous operations since 1981, Serviços de Petróleo Constellation has built an unmatched reputation for excellence in offshore and onshore drilling services, obtaining ISO 9001, ISO 14001, OHSAS 18001 and API Spec Q2 certifications for its quality management, environmental and safety records and systems.