The Netherlands-headquartered SBM Offshore has announced that the company and ExxonMobil Guyana Ltd, an affiliate of US-headquartered oil major Exxon Mobil Corporation, completed the transaction related to the purchase of FPSO One Guyana, ahead of the maximum lease term which would have expired in August 2027.

The purchase allows ExxonMobil Guyana to assume ownership of the FPSO unit while SBM Offshore will continue to operate and maintain the FPSO up to 2035, as SBM Offshore states.

The transaction comprises a total cash consideration of c. $2.32bn. According to SBM Offshore, the net cash proceeds have been primarily used for the full repayment of the $1.74bn project financing and as such materially decreased SBM Offshore’s net debt position.

The 2025 built FPSO One Guyana has been on hire since August 2025, and it will continue to be operated through the integrated operations and maintenance model, combining SBM Offshore’s and ExxonMobil Guyana’s expertise and experience.