SBM Offshore's Longtail FPSO Win Extends Guyana Growth And Investor Story [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
SBM Offshore secured Front End Engineering and Design contracts from ExxonMobil Guyana Limited for the Longtail FPSO project in Guyana. The award extends SBM Offshore's Fast4Ward based FPSO work in the Stabroek Block and deepens its collaboration with ExxonMobil in the country. The project is expected to reinforce SBM Offshore's local content efforts and support engineering and project execution from Guyana and other hubs. For investors tracking ENXTAM:SBMO, this contract win comes with the share price at €34.52 and follows a 39.9% return year to date and 83.3% over the past year. Over a 3 year period, the stock has delivered 203.6%, and over 5 years, 196.5%. These figures put recent news about the Longtail FPSO in the context of an already strong performance profile. In the short term, the share price has been more mixed, with a 1.1% decline over 7 days and a 7.9% return over 30 days. For readers, the key question is how the Longtail FPSO work might influence SBM Offshore's
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