SBM Offshore and ExxonMobil Guyana, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of the floating processing storage and offloading vessel (FPSO) One Guyana ahead of the maximum lease term, which would have expired in August 2027.
SBM Offshore said the purchase will allow 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 around US$2.32 billion.
The net cash proceeds have been primarily used for the full repayment of the US$1.74 billion project financing and as such materially decreased SBM Offshore’s net debt position.
One Guyana has been on-hire since August 2025. It will continue to be operated through what SBM Offshore said is an integrated operations and maintenance model, combining SBM Offshore’s and ExxonMobil Guyana’s expertise and experience.
SBM Offshore said the impact of the transaction will be included in the company’s 2026 guidance as part of the full year 2025 earnings release, which is scheduled for February 26, 2026.
