SBM Offshore raises guidance on record backlog, strong demand in Guyana, West Africa, Brazil

SBM Offshore nearly doubled first-half 2026 directional EBITDA to $1.3 billion, secured major contracts, and raised its full-year guidance despite market volatility. The gain partly reflects the One Guyana sale, which inflated H1 results; full-year EBITDA will not double. CEO Øyvind Tangen said standardization allows expanding capacity beyond six hulls, citing a record backlog and strong demand in Guyana, West Africa, and Brazil. SBM remains disciplined on returns, including for Namibia’s Venus project. Management sees no new supply-chain challenges, and carbon capture has not yet materialized in client specifications.