**ExxonMobil Takes Ownership of Payara FPSO Offshore Guyana**
In a significant development for the global oil and gas industry, ExxonMobil has completed the acquisition of the Floating Production, Storage, and Offloading (FPSO) unit, Prosperity, from SBM Offshore. This strategic move marks a crucial milestone in ExxonMobil’s operations in Guyana, further solidifying the company’s foothold in the region.
The Prosperity FPSO, initially deployed at ExxonMobil’s Payara development, is one of three major offshore oil developments on the Stabroek Block in Guyana. The Payara project began producing oil on November 14, 2023, and is expected to contribute significantly to the overall production capacity of Guyana. The Prosperity FPSO is set to reach an initial production of approximately 220,000 barrels of oil per day, with an overall storage volume of two million barrels.
ExxonMobil, through its affiliate ExxonMobil Guyana, finalized the transaction involving the purchase of the FPSO Prosperity ahead of its maximum lease term, which would have expired in November 2025. The agreement sees SBM Offshore continuing to operate and maintain the FPSO until 2033, maintaining a seamless integration of operations with ExxonMobil’s skills.
The financial aspect of this transaction was substantial, with ExxonMobil paying $1.23 billion for the FPSO. This sum will primarily be used to repay $0.98 billion in project financing, thereby reducing SBM Offshore’s net debt.
The acquisition aligns with ExxonMobil’s long-term strategy to enhance production capacity and support economic development in Guyana. The company operates the Stabroek Block in partnership with Hess Guyana Exploration, holding a 45% interest, while Hess holds 30%, and CNOOC Petroleum Guyana Limited holds 25%.
The deployment of FPSO Prosperity complements the Liza Unity, another key project in the region, which has been recognized for its sustainability efforts, including the SUSTAIN-1 notation from the American Bureau of Shipping. This initiative underscores ExxonMobil’s commitment to environmental responsibility and sustainable operational practices.
ExxonMobil’s project agenda in Guyana is ambitious, aiming to have six FPSOs in operation by the end of 2027. The Payara development is part of this broader vision, supporting economic growth and resource access for Guyanese communities while meeting global energy