ExxonMobil Guyana Limited (EMGL) has completed the US$2.32 billion purchase of the ONE GUYANA floating production, storage and offloading (FPSO) vessel that has been pivotal in Guyana’s offshore oil production.
The acquisition allows ExxonMobil Guyana to assume full ownership of the unit well ahead of the lease’s original expiration in August 2027.
SBM Offshore designed and built the ONE GUYANA FPSO for ExxonMobil, delivering the vessel in April 2025, its fourth vessel in Guyana’s prolific Stabroek Block, inclusive of the Liza Destiny, Liza Unity, and Prosperity.
“The transaction enables a seamless transfer of ownership while maintaining the FPSO’s operational performance at world-class standards,” SBM Offshore Amsterdam headquarters announced in a press release today, February 4.
The company said it will continue to operate and maintain the FPSO through 2035, leveraging its integrated operations and maintenance model. In November 2025, EMGL signalled an early purchase of the FPSO. The vessel, the largest production unit in Guyana, has a nameplate capacity of 250,000 barrels of oil per day.
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The US$2.32 billion cash consideration was primarily used by SBM Offshore to fully repay US$1.74 billion in project financing, significantly reducing the company’s net debt position.
The ONE GUYANA FPSO, on hire since August 2025, has delivered strong performance under the combined expertise of SBM Offshore and ExxonMobil Guyana, supporting the rapid growth of the country’s burgeoning oil sector.
According to SBM Offshore, “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.”
Oil production remained the dominant growth driver of Guyana’s economy. The Stabroek Block averaged just under 716,000 barrels per day in 2025, supported by output from Liza Destiny, Liza Unity, Prosperity, and the start-up of ONE GUYANA, which produced just under 191,000 barrels per day in the second half of the year.
ExxonMobil operates Guyana’s Stabroek Block with a 45% stake, with co-venturers Hess 30%, and CNOOC 25%. The Stabroek Block’s estimated resource base is approximately 11 billion barrels of recoverable resources.
