ExxonMobil Guyana has finalized its purchase of the Floating Production, Storage, and Offloading (FPSO) Prosperity from SBM Offshore for $1.23 billion, ahead of schedule. The acquisition strengthens Guyana’s position in the expanding offshore oil sector, with ExxonMobil taking ownership while SBM Offshore continues its operational support until 2033.
The FPSO, operational since November 2023, is one of three units in the Stabroek Block, driving Guyana’s rise as a key oil player. Guyana now accounts for 1.3% of global crude tanker volumes, with more untapped reserves in the region, estimated at 11 billion barrels.
SBM Offshore will use the proceeds to reduce its debt, and the full impact on the company’s finances will be revealed in the Q3 2024 update on November 14.
