On February 4, Dutch FPSO operator SBM Offshore announced via its official website that it has completed the transaction for the sale of FPSO ONE GUYANA to ExxonMobil Guyana Ltd., an affiliate of Exxon Mobil Corporation, ahead of the vessel’s maximum lease term, which was set to expire in August 2027. Under the agreement, ExxonMobil Guyana will take ownership of the unit, while SBM Offshore will continue to provide operations and maintenance services for the FPSO through 2035.
The transaction comprises a total cash consideration of c. US$2.32 billion. The net cash proceeds have been primarily used for the full repayment of the US$1.74 billion project financing and as such materially decreased SBM Offshore’s net debt position.
FPSO ONE GUYANA has been on hire since August 2025. It will continue to be operated through the integrated operations and maintenance model, combining SBM Offshore’s and ExxonMobil Guyana’s expertise and experience, and delivering outstanding operational performance.
The impact of the transaction will be included in the Company’s 2026 guidance as part of the Full Year 2025 Earnings release, scheduled for February 26, 2026.
Data indicates that FPSO ONE GUYANA is designed for a daily crude oil production capacity of approximately 250,000 barrels, with a natural gas processing capacity of about 450 million cubic feet per day and a water injection capacity of approximately 300,000 barrels per day. Utilizing a tension-leg mooring system, it operates at a water depth of approximately 1,800 meters and possesses a crude oil storage capacity of about 2 million barrels. FPSO ONE GUYANA is the core production unit of the Yellowtail project in the Stabroek block of Guyana. It was built by SBM Offshore using the Fast4Ward® standard solution and delivered by Singaporean shipbuilder Seatrium. It is the fourth and largest FPSO in the region and will be put into operation in August 2025.