ExxonMobil Guyana, SBM Offshore complete purchase of FPSO Prosperity
SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO聽Prosperity,聽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.
The transaction comprises a total cash consideration of c. 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鈥檚 net debt position.
The FPSO聽Prosperity聽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鈥檚 expertise and experience delivering outstanding operational performance.
The impact of the transaction will be included in the update of the SBM's 2024 guidance as part of the Third Quarter 2024 Trading Update, scheduled for November 14, 2024.