BOMESC has secured a contract worth RMB1.6bn to RMB2.1bn ($225m-$295m) from SBM Offshore to design, procure and construct topside modules for an FPSO destined for South America.

The Chinese offshore engineering contractor said its wholly owned subsidiary, Tianjin BOMESC Offshore Engineering, signed the deal with Single Buoy Moorings, SBM Offshore's operating subsidiary. Fabrication will take place at BOMESC's offshore engineering base in Tianjin, with completion scheduled for the second half of 2028.

The final contract value remains open-ended. BOMESC said the agreement combines a fixed portion and a variable component, and the definitive amount will be determined by the actual workload carried out once the job is finished.

Neither company has identified the FPSO or the project the unit will serve. The only disclosure is that the floater is destined for operations in South America — a region where SBM Offshore has concentrated much of its orderbook, led by Brazilian deepwater developments.

The scale of the award is significant for BOMESC. At the upper end of the estimated range, the contract exceeds the company's reported 2025 revenue, making this one of the largest single awards in the contractor's recent history and a material load for its Tianjin fabrication capacity over the next three-plus years.

For SBM Offshore, the deal extends a long-running sourcing pattern. The Dutch floater specialist has repeatedly placed topside module work with Chinese yards to hold down construction costs on its FPSO programmes, and BOMESC has been a recurring supplier on that circuit. The contractor has previously delivered topside modules for SBM-built units deployed offshore Brazil.

The most prominent of those earlier collaborations is the FPSO Sepetiba, which BOMESC worked on for SBM Offshore. That unit was built for Petrobras' Mero development in Brazil's Santos Basin — one of the largest pre-salt projects in the basin and a reference point for the scale of work now flowing back to Tianjin.

The award signals continued momentum in FPSO newbuild and conversion activity tied to South American deepwater production, with Brazilian national oil company Petrobras and its leasing partners sustaining a pipeline of floater projects through the end of the decade. BOMESC's Tianjin base, positioned to serve that pipeline, now carries committed workload into H2 2028, giving the yard visibility that many Asian fabrication peers currently lack.

With contract value still dependent on final scope, the deal's full financial impact will only become clear as execution proceeds — but the award already anchors BOMESC's orderbook through 2028 and points to further South America-linked FPSO fabrication demand landing at Chinese yards.