ExxonMobil Guyana completes purchase of FPSO Liza Destiny from SBM Offshore

SBM Offshore and ExxonMobil Guyana, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Liza Destiny ahead of the maximum lease term, which would have expired in December 2029.

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.

The transaction comprises a total cash consideration of around US$535 million.

The net cash proceeds will primarily be used for the full repayment of the $405 million project financing and as such will decrease SBM Offshore’s net debt position, the company announced.

Liza Destiny has been on hire since December 2019. Converted from the VLCC Tina by Keppel Shipyard in Singapore starting in 2017, the FPSO is designed to produce up to 120,000 barrels of oil per day.

She has associated gas treatment capacity of around 170 million cubic feet per day and water injection capacity of 200,000 barrels per day.