Seatrium wins offshore rig integration contract from repeat customer SBM Offshore
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
0mins
Source: Yahoo Finance
- Seatrium Contract Win: Seatrium secures a contract from SBM Offshore for topside fabrication and integration of an offshore rig, FPSO Jaguar.
- Market Index Impact: Seatrium and four other counters removed from the MSCI Singapore Index, leading to a more than 10% drop in share price.
- Passive Fund Managers: Passive fund managers base their portfolios on market index components.
- Rig Details: FPSO Jaguar designed to produce 250,000 barrels of oil per day, to be deployed in the Whiptail Field off Guyana.
- Future Projects: Seatrium involved in three other offshore rigs in Guyana and on track to deliver its fourth rig to SBM.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
