On February 4 2026, ExxonMobil Guyana Ltd. completed a $2.32 billion cash transaction to acquire full ownership of the FPSO ONE GUYANA, a floating production, storage and off‑loading unit that has been operating in Guyana’s Stabroek Block since August 2025.
Under the terms of the deal, SBM Offshore will continue to operate and maintain the FPSO through 2035, ensuring operational continuity while ExxonMobil gains full control of the asset. The FPSO, the fourth and largest platform in the block, achieved first oil ahead of schedule in August 2025 and has been on hire since its commissioning.
The acquisition aligns with ExxonMobil’s strategy to consolidate ownership of high‑margin offshore assets in Guyana, a region that has become a major growth engine for the company. By owning the FPSO outright, ExxonMobil can streamline decision‑making, reduce lease costs, and accelerate future development plans in the block, where the company has already committed more than $55 billion to six offshore projects.
Financially, the $2.32 billion outlay will be reflected in ExxonMobil’s 2026 guidance, while SBM Offshore will use the proceeds to repay $1.74 billion of project financing, substantially reducing its net debt. The sale also signals ExxonMobil’s confidence in Guyana’s production potential and its commitment to cost discipline across its portfolio.
The transaction is part of a broader pattern of ExxonMobil’s FPSO acquisitions in Guyana, following the purchases of Liza Unity ($1.26 billion) and Prosperity ($1.23 billion). Both vessels have received sustainability notations, and ExxonMobil’s overall sustainability goals include significant reductions in greenhouse gas and methane intensity across its operations.
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