SBM Offshore is a global group of companies developing systems and services to the offshore industry. Its constituent companies started their offshore activities in the early 1950s and SBM Offshore subsequently became a pioneer in the development of single point mooring (SPM) systems. The firm leases and operates floating production storage and offloading (FPSO) vessels, and is involved in the design and engineering, the construction, the installation, the operation and the life extension of floating production solutions for the offshore oil & gas industry.