FPSO

SBM Offshore reported a strong Q3 2025, with year-to-date directional revenue up 26% to US$3.6 billion. Full-year 2025 Directional EBITDA guidance increased to around US$1.65 billion, with revenue guidance maintained above US$5.0 billion. FPSO ONE GUYANA achieved first oil. The company’s EUR141 million share repurchase program is 71% complete. ExxonMobil Guyana may acquire FPSO ONE GUYANA in early 2026. Strategic collaborations with Cognite and SLB aim to enhance operational efficiency using AI.

TotalEnergies launched oil production from its Mero-4 phase in Brazil’s pre-salt Santos Basin, bolstering its low-carbon strategy. The offshore project, linked to the 180,000 b/d Alexandre de Gusmão FPSO, employs emissions-reduction technologies like gas reinjection. Combined with existing units, Mero’s total output reaches 770,000 b/d. TotalEnergies’ stake is expected to deliver 100,000 boe/d. Operated by the Libra Consortium (Petrobras, TotalEnergies, Shell, CNPC, CNOOC, and Pré-Sal Petróleo), the project aligns with the company’s 3% annual production growth target by 2030. TotalEnergies also emphasized Brazil’s role in its renewables expansion, including a 12 GW solar/wind joint venture, balancing hydrocarbon growth with sustainability goals.