ExxonMobil Guyana’s recent acquisition of the FPSO ONE GUYANA floating unit marks a key step forward in consolidating its presence in deepwater. The transaction, valued at approximately $2.32 billion, was completed ahead of the lease agreement’s scheduled expiration in August 2027.
SBM Offshore to continue operating until 2035
As agreed, SBM Offshore will continue to be responsible for the operation and maintenance of the facility until 2035, within the integrated model that combines the technical expertise of both companies. This approach ensures continuity of production and operational efficiency in the Stabroek block, 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
Since coming into operation in August 2025, the FPSO ONE GUYANA has maintained outstanding levels of productivity. This transaction will be reflected in SBM Offshore’s annual results for 2025, which are scheduled to be published 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