The Netherlands-headquartered energy technology company SBM Offshore has confirmed a multi-year extension to its existing lease and operations agreement for two floating production, storage, and offloading (FPSO) vessels working offshore Angola with Esso Exploration Angola, a subsidiary of the United States-based energy major ExxonMobil.
Under the renewed agreement, SBM Offshore will continue to own and operate the FPSOs Mondo and Saxi Batuque in Block 15, one of Angola’s significant offshore developments, until 2032. The extension will include a comprehensive life-extension programme beginning in 2026, focusing on equipment refurbishment and replacement. These activities are aimed at ensuring continued operational integrity, adherence to international safety standards, and optimised performance throughout the extended contract period.
The extension is regarded within the industry as a recognition of SBM Offshore’s long-standing operational expertise in the deepwater sector and its capacity to manage complex offshore brownfield projects. According to the company, the agreement underscores its commitment to maintaining operational excellence and supporting the local workforce and industrial capacity in Angola.
Øivind Tangen, Chief Executive Officer of SBM Offshore, stated that the extension “allows us to maintain our structure and scale in Angola and, most importantly, to provide job security to our teams.” He added that the company remains committed to “safe and reliable operations through this extension period” while continuing to generate value for Angola’s energy industry, building upon three decades of continuous engagement in the country.
Esso Exploration Angola operates Block 15 in partnership with its co-venturers, Azule Energy, Equinor, and Sonangol E&P. The consortium has played a central role in the development of Angola’s offshore oil sector, which remains a cornerstone of the nation’s economy and a key driver of broader regional energy integration.
This contract extension not only reinforces SBM Offshore’s position within Angola’s offshore energy landscape but also contributes to the broader objective of strengthening local participation and ensuring the sustainability of existing energy infrastructure. It aligns with Angola’s ongoing efforts to maximise value creation from its offshore resources while supporting employment and technology transfer in collaboration with international partners.
In parallel, SBM Offshore recently announced a strategic collaboration with Cognite and SLB to develop an artificial intelligence-driven framework designed to enhance operational efficiency and support innovation across its global floating production systems. The partnership highlights the growing role of digital transformation in shaping the future of offshore energy production, particularly in regions such as West and Southern Africa where technology-driven operational improvements can foster long-term resilience and value creation.
Angola’s offshore sector continues to attract sustained investment, reflecting confidence in its regulatory environment and its commitment to balancing energy development with socio-economic inclusion. The extension of SBM Offshore’s partnership with ExxonMobil can therefore be interpreted as a sign of enduring cooperation between African producers and international operators, underpinned by shared commitments to safety, sustainability, and economic progress.
