ExxonMobil Buys Guyana FPSO for $2.3B, SBM Offshore Keeps Ops Role
February 5, 2026
SBM Offshore and ExxonMobil Guyana, an affiliate of ExxonMobil, have completed the transaction related to the purchase of One Guyana floating production, storage and offloading (FPSO) unit.
The purchase was completed ahead of the maximum lease term which would have expired in August 2027.
The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2035.
The transaction comprises a total cash consideration of $2.32 billion. The net cash proceeds have been primarily used for the full repayment of the $1.74 billion project financing and as such materially decreased SBM Offshore’s net debt position.
One Guyana FPSO 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 Gyana’s expertise and experience, and delivering outstanding operational performance.
The FPSO has been designed to produce approximately 250,000 barrels of oil per day, with an associated gas treatment capacity of approximately 450 million cubic feet per day, and water injection capacity of approximately 300,000 barrels per day.
It is part of Yellowtail offshore development, which is the fourth development within the Stabroek block, around 200 kilometers offshore Guyana.
