ExxonMobil Guyana completes FPSO purchase for US$1 billion

SBM Offshore and ExxonMobil Guyana have completed the transaction related to the purchase of the floating production storage and offloading unit (FPSO) Prosperity, ahead of the maximum lease term, which would have expired in November 2025.

The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.

The transaction comprises a total cash consideration of approximately US$1.23 billion. The net cash proceeds will primarily be used for the full repayment of the US$0.98 billion project financing and as such will decrease SBM Offshore’s net debt position.

Prosperity has been on hire since November 2023 and has and will continue to be operated through the integrated operations and maintenance model of SBM Offshore and ExxonMobil.

Prosperity is deployed at Guyana's Payara oil field, located in the Stabroek block. The FPSO is designed to achieve a production capacity of 220,000 barrels of oil per day, an associated gas treatment capacity of around 11.3 million cubic metres per day, and a water injection capacity of around 250,000 barrels per day.