SBM Offshore N.V.

Siemens Energy has secured two major contracts, including a deal with Babcock & Wilcox to supply 20 steam turbines totaling 1 GW of capacity for AI data center power projects, and a separate agreement with SBM Offshore to provide power generation and gas compression systems for Petrobras-operated FPSO units in Brazilian offshore fields. The contracts extend Siemens Energy's footprint in data center power infrastructure and offshore oil and gas, adding to an already large backlog that the company has flagged as a potential source of working capital strain and execution risk. The 1 GW data center turbine deal reinforces the potential for gas power contracts to benefit from surging electricity demand, while the Petrobras-related work aligns with diversified international order intake and service potential.

SBM Offshore has selected Siemens Energy to supply power generation and gas compression systems for two floating production, storage and offloading vessels destined for Petrobras' platforms in Brazil's Sergipe-Alagoas basin. The equipment will be installed on the P-81 and P-87 FPSOs, which are part of the SEAP I and SEAP II developments respectively, and together are designed to produce up to 240,000 barrels of oil and process up to 22 million cubic metres of natural gas per day. Under the agreement, Siemens Energy will deliver a total of 16 modular systems, with eight units allocated to each platform, including four gas turbine generators, three gas turbine-driven compressor trains, and one electrically driven compressor per FPSO. The majority of the equipment will be assembled at Siemens Energy's facility in Santa Bárbara d'Oeste, Brazil, with the first consignment scheduled for delivery by the end of 2027 and the remainder in 2028. Initial production is anticipated to commence in 2030, with gas exports expected to begin in 2031.

SBM Offshore raised its full-year 2026 guidance after reporting a record first half. Directional revenue increased to $4.9 billion and directional EBITDA nearly doubled to $1.3 billion, driven by new contracts including the FPSO SEAP 1 and SEAP 2 awards from Petrobras and a feed contract for ExxonMobil Guyana's long-tail development. The company's backlog reached a record $35.6 billion, and it now expects full-year directional revenue of around $7.6 billion and directional EBITDA of around $1.9 billion. Fleet uptime remained around 99% across 16 operating units, and the company is on track to deliver a minimum of $2.1 billion in shareholder returns for 2026-2031. The sale of FPSO One Guyana and a minority interest in FPSO Dalji helped reduce net debt to $3.7 billion, though the company noted a fatality at a subcontractor's yard in China and ongoing working capital drag.

SBM Offshore disclosed that it repurchased 140,016 of its own shares for a total settlement amount of EUR4,479,870 during the period from July 30 through August 5, 2026, as part of its ongoing EUR227 million share repurchase program. The average purchase price across the five trading days was EUR32.00 per share, with daily volumes ranging from 27,720 to 28,211 shares and daily average prices between EUR31.76 and EUR32.32. The program, which began on February 27, 2026, aims to reduce share capital and supply shares for management and employee share plans, and as of August 5 it had reached 43.88 percent completion with cumulative repurchases of 2,968,735 shares at an average price of EUR33.50 for a total of EUR99,454,527. All purchases were executed on Euronext Amsterdam, CBOE DXE, Turquoise Europe, and Aquis Europe.

SBM Offshore disclosed transaction details for its EUR227 million share repurchase program covering the period July 23 through July 29, 2026. The company repurchased 137,161 shares at an average price of EUR32.66, totaling EUR4,479,909 over the five trading days. Since the program began on February 27, 2026, cumulative repurchases have reached 2,828,719 shares at an average price of EUR33.58, amounting to EUR94,974,657, which represents 41.91% of the total EUR226,633,158 program. The buyback aims to reduce share capital and supply shares for management and employee share plans.

SBM Offshore disclosed that its EUR227 million share repurchase program reached 37.95% completion as of July 15, 2026. The company repurchased 139,776 shares during the July 9 through July 15 period at an average price of EUR 32.05, for a total settlement amount of EUR 4,479,930. Since the program began on February 27, 2026, cumulative repurchases have totaled 2,552,354 shares at an average price of EUR 33.70, amounting to EUR 86,014,840. The program aims to reduce share capital and provide shares for management and employee share plans. All purchases were executed on Euronext Amsterdam, CBOE DXE, Turquoise Europe, and Aquis Europe.

SBM Offshore repurchased 144,357 shares for a total settlement amount of EUR4,479,934 during the period July 2 through July 8, 2026, as part of its EUR227 million share repurchase program. The average purchase price for the week was EUR31.03, with daily volumes ranging from 27,753 to 29,833 shares. Since the program began on February 27, 2026, the company has bought back 2,412,578 shares at a cumulative average price of EUR33.80, representing 35.98% of the total program. The repurchases were executed across Euronext Amsterdam, CBOE DXE, Turquoise Europe, and Aquis Europe.

The 13th Monaco Energy Boat Challenge will take place from 8 to 11 July 2026, bringing together 54 teams from 21 countries at Yacht Club de Monaco. Over four days, young engineers will test prototypes featuring electric, hydrogen, methanol, and AI technologies in real sea conditions. The free public Village, open 10am to 6pm from 9 to 11 July, offers visitors close-up access to innovations, daily prize-giving ceremonies at 5.30pm, and live race broadcasts. Supported by the Prince Albert II of Monaco Foundation, UBS, BMW, SBM Offshore, and others, the event includes an E-Dock with fast-charging stations, a Job Forum, and conferences on advanced yachting technology and alternative fuels. Since 2014, the challenge has involved over 6,500 students and around 50 universities, serving as an open-air innovation laboratory for the yachting sector's energy transition.

SBM Offshore has signed a US$465 million project financing for the FSO Chalchi. The financing is provided by a consortium of international banks and institutional investors and includes partial insurance cover from China Export & Credit Insurance Corporation. The loans will be drawn during construction and become non-recourse after the FSO starts operations, with a maximum tenor of about 14 years post completion. FSO Chalchi is under construction and will operate under a 20-year lease and operate contract with Woodside Energy for deployment at the Trion field offshore Mexico. The newbuild FSO, based on a Suezmax-type hull with a disconnectable turret mooring system, will be moored in about 2,500 meters of water and store around 950,000 barrels of crude oil.

The 13th Monaco Energy Boat Challenge will take place from July 8 to 11, bringing together 52 teams from 21 nationalities representing 33 competing universities, with 14 additional universities attending as observers. Organized by Yacht Club de Monaco, the event will showcase clean propulsion technologies including electric, hydrogen, methanol-powered, and foiling solutions. A delegation from four American universities—Columbia University, George Washington University, Howard University, and Florida International University—will attend to explore participation in the 2027 edition. The event is supported by the Prince Albert II of Monaco Foundation, the Monaco City Council, UBS, BMW, and SBM Offshore, with NatPower H serving as the official hydrogen supplier.