ExxonMobil Guyana’s recent acquisition of the floating unit FPSO ONE GUYANA by ExxonMobil Guyana marks a key step forward in consolidating its deepwater presence. The transaction, valued at approximately US$2.32 billion, was completed ahead of the lease expiration scheduled for August 2027.
SBM Offshore to continue operating until 2035
As agreed, SBM Offshore will continue to be in charge of the operation and maintenance of the facility until 2035, within an integrated model that combines the technical expertise of both companies. This approach ensures continuity in production and operational efficiency in the Stabroek block. Stabroek blockblock, where the unit is deployed.
In addition to the transfer of ownership, the transaction involved the full repayment of the US$1.74 billion project financing, resulting in a significant decrease in SBM Offshore’s net debt. This financial movement strengthens its accounting position while maintaining an active participation in the technical performance of the FPSO.
Financial results and impact of FPSO ONE GUYANA
From its entry into operation in August 2025, the FPSO ONE GUYANA has maintained outstanding productivity levels. This transaction will be reflected in SBM Offshore’s 2025 annual results, which are scheduled for release on February 26, 2026.
The transfer of ownership reinforces ExxonMobil’s commitment to Guyana’s energy development, while SBM Offshore consolidates its role as a reliable operator of highly complex offshore infrastructure.
Source: SBM Offshore
Photo: McDermott