ExxonMobil pays $2.32 billion for Guyana-based FPSO, SBM Offshore remains in charge of ops

February 5, 2026, by Melisa Cavcic

Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, and ExxonMobil Guyana, a subsidiary of the U.S.-headquartered energy giant ExxonMobil, have wrapped up the change of ownership process for a floating production, storage, and offloading (FPSO) unit, which is deployed off the coast of Guyana.

ExxonMobil has now completed the acquisition of the FPSO One Guyana, ahead of the maximum lease term, which would have expired in August 2027. The purchase allows the company to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2035.

The Dutch player explains that the transaction comprises a total cash consideration of around $2.32 billion, with the net cash proceeds primarily used for the full repayment of the $1.74 billion project financing, materially decreasing the FPSO operator’s net debt position.

The FPSO One Guyana, which has been on hire since August 2025, will continue to be operated through the integrated operations and maintenance model, combining SBM Offshore and ExxonMobil Guyana’s expertise and experience to deliver “outstanding operational performance,” in the Dutch player’s view.

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The latest FPSO acquisition comes after ExxonMobil decided to buy the FPSO Liza Destiny, ahead of the maximum lease term, which would have expired in December 2029. The move followed the purchase of the FPSO Prosperity, which came a year after the firm paid around $1.26 billion for the FPSO Liza Unity.

Following a final investment decision (FID), the Yellowtail field came online early by nearly four months as the fourth oil project at Guyana’s Stabroek block, flowing first oil through the FPSO One Guyana. ExxonMobil Guyana operates the block and holds a 45% interest, with Hess, part of Chevron, holding 30% and CNOOC the remaining 25%.

With a storage capacity of 2 million barrels, the FPSO joined other units, including FPSOs Liza Destiny, Liza Unity, and Prosperity at the Stabroek block. With an initial annual average production of 250,000 bopd, the unit brought the country’s total installed capacity to over 900,000 barrels of oil a day (bopd).

ExxonMobil is set on deploying six FPSOs with a gross production capacity of over 1.2 million barrels of oil per day at the Stabroek block by 2027-end. The firm has also hinted at the possibility of up to ten units being employed to develop estimated gross discovered recoverable resources of over 11 billion boe.