SBM Offshore Sells FPSO One Guyana to ExxonMobil for $2.32 Billion
SBM Offshore and ExxonMobil Guyana Ltd finalized the purchase transaction of the FPSO ONE GUYANA on February 4, 2026. The floating unit, operational since August 2025, is changing ownership while still being operated by SBM Offshore until 2035.
Details of the Transaction
The transaction involves the sale of the FPSO ONE GUYANA to ExxonMobil Guyana Ltd, a subsidiary of Exxon Mobil Corporation. The sale occurred before the maximum term of the lease, which would have expired in August 2027. The consideration amounted to approximately $2.32 billion in cash. SBM Offshore will continue to be responsible for the operation and maintenance of the unit until 2035, under an integrated model that combines the expertise of both partners.
Financial Implications of the Sale
The net proceeds from the sale were primarily used for the full repayment of the project financing, which amounted to $1.74 billion. This use of funds resulted in a substantial reduction in SBM Offshore's net debt position. The complete impact of the transaction will be incorporated into the company's 2026 guidance, which will be presented during the publication of the 2025 annual results on February 26, 2026.
