ExxonMobil Guyana Ltd., an affiliate of ExxonMobil Corp., has completed a deal with SBM Offshore related to the purchase of the Prosperity floating, production, storage, and offloading (FPSO) vessel ahead of the maximum lease term, which would have expired in November 2025.
The FPSO has been on hire since November 2023. The purchase allows ExxonMobil Guyana to assume ownership of the unit—which is currently operating at Payara, Guyana’s third offshore oil development on Stabroek block—while SBM Offshore will continue to operate and maintain the FPSO up to 2033 (OGJ Online, Nov. 14, 2023).
The transaction comprises a total cash consideration of $1.23 billion.
ExxonMobil started production at Payara in November 2023. Oil production from the Prosperity FPSO reached about 230,000 b/d earlier this year as part of an increase in oil production at Stabroek block to 640,000 b/d (OGJ Online, Feb. 20, 2024).
