Back to overview Home Fossil Energy SBM Offshore puts $465 million financing in place for Gulf of Mexico-destined FSO SBM Offshore puts $465 million financing in place for Gulf of Mexico-destined FSO Business & Finance June 30, 2026, by Melisa Cavcic Share this article Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has secured multimillion-dollar financing for a newbuild floating storage and offloading (FSO) unit, which will be deployed at a deepwater oil project off the coast of Mexico, North America. Trion development concept; Source: Woodside SBM Offshore has signed the project financing for the FSO Chalchi  for a total amount of $465 million with a consortium of international banks and institutional investors. This includes partial insurance cover from China Export & Credit Insurance Corporation. The Dutch giant emphasizes that the project financing will be drawn during the construction period and will become non-recourse after the FSO has started operations. The loans have a maximum tenor of around 14 years post-completion. Douglas Wood , CFO of SBM Offshore, commented: “We welcome the signing of the project financing of FSO Chalchi, marking our first transaction combining commercial banks, institutional investors and support from an export credit agency. “This financing structure demonstrates SBM Offshore’s ability to deliver innovative, long-term funding solutions for our clients and provides a scalable solution for potential new lease and operate projects.” This content is available after accepting the cookies. Change cookie-settings View on Offshore-energy. Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon The FSO Chalchi, which is currently under construction , will be operated under 20-year lease and operate contracts with Woodside Energy through its affiliate in Mexico. The ne