ExxonMobil completes US$1.23 billion Prosperity FPSO purchase from SBM Offshore 

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre

ExxonMobil Guyana has completed a US$1.23 billion purchase of the Prosperity floating production, storage and offloading (FPSO) vessel from SBM Offshore.

The Dutch FPSO-builder announced the completion of the transaction, in a November 7 release, ahead of the maximum lease term, which would have expired in November 2025. 

The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.

SBM Offshore said the transaction comprises a total cash consideration of US$1.23 billion. The net cash proceeds will primarily be used for the full repayment of the US$0.98 billion project financing and as such will decrease SBM Offshore’s net debt position.

Optimization efforts ‘perfectly within operating envelope of FPSOs’, says SBM Offshore

The FPSO Prosperity has been on hire since November 2023 and has and will continue to be operated through the integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s efforts. It is operating in the Stabroek Block, and currently has production capacity of 252,000 barrels per day (b/d). 

Exxon already purchased FPSO Liza Unity in November 2023, which can produce 270,000 b/d. It plans to purchase FPSO Liza Destiny, which can produce 160,000 b/d.

Aside from producing FPSOs, SBM Offshore is expected to deliver the ONE GUYANA in 2025 and the Jaguar in 2027. All vessels are expected to produce simultaneously by 2027, contributing to more than 1 million b/d.

- ADVERTISEMENT -
[td_block_social_counter]
spot_img

Partnered Events

Latest News

Guyana oil production averaged 608,000 b/d in first 10 months of 2024

Crude oil production at the ExxonMobil-operated Stabroek Block averaged 608,000 barrels per day (b/d) in the first 10 months...

More Articles Like This