On October 26, BOMESC Offshore Engineering Co., Ltd. (BOMESC) announced that its wholly-owned subsidiary, Tianjin BOMESC Offshore Engineering, has signed a contract with Single Buoy Moorings (SBM) for the construction of topside modules for a Floating Production, Storage, and Offloading (FPSO) unit. The contract took effect on October 25, 2026, with a contract value of approximately 2.4–3.0 billion yuan (equivalent to approximately $360 million–$450 million).
The announcement discloses that the primary scope of work for BOMESC Offshore Engineering encompasses the design, material procurement, and construction of FPSO topside modules, with completion and delivery scheduled for April 2029 at the BOMESC Lingang Offshore Heavy Industry fabrication base.
BOMESC stated that this project will further strengthen the company’s partnership with SBM and lay a solid foundation for future business development. The signing of this contract will effectively secure the company’s workload and have a positive impact on its operating results for the current and future years.
It is understood that this marks the second collaboration between the two parties in the recent period. On September 29 of this year, BOMESC signed a contract with SBM for the construction of FPSO topside modules, with a contract value of approximately 1.6–2.1 billion yuan; the project is scheduled for completion in the second half of 2028.
SBM is a wholly-owned Swiss subsidiary of SBM Offshore, an internationally renowned offshore oil and gas services company headquartered in the Netherlands. SBM Offshore specializes in the design, construction, installation, operation, and maintenance of offshore floating production facilities. SBM’s core business involves providing floating production solutions to the offshore energy industry, with a focus on the design, supply, installation, operation, and life-extension services for Floating Production, Storage, and Offloading (FPSO) units.
On October 23, BOMESC released its third-quarter financial report. For the first three quarters of 2026, the company recorded an operating revenue of approximately 1.354 billion yuan (approximately $203 million), an increase of 2.36% year-on-year; its total profit stood at approximately -67.18 million yuan, a sharp year-on-year decline of 469.48%.