UP-DATE: Guyana $1.23bn SBM Offshore’s FPSO Prosperity status

ExxonMobil Guyana acquires SBM Offshore’s FPSO Prosperity for $1.23bn

ExxonMobil Guyana has finalized a significant acquisition, purchasing the Floating Production Storage and Offloading (FPSO) unit *Prosperity* from SBM Offshore for a substantial $1.23 billion. This deal represents a key step in ExxonMobil’s ongoing development of its vast oil resources offshore Guyana.

The FPSO *Prosperity* is designed to serve as a critical infrastructure asset in ExxonMobil’s operations within the prolific Stabroek Block, located offshore Guyana. This block has become one of the most significant oil discoveries in recent years, with estimated recoverable resources exceeding 10 billion barrels of oil equivalent. ExxonMobil is the operator of the block and has been rapidly advancing its exploration and production activities in the region, with numerous projects already underway.

The *Prosperity* FPSO, which was built by SBM Offshore, will be used to support the production and processing of oil from the Stabroek Block. SBM Offshore, a major player in the design, construction, and operation of FPSOs, will continue to be involved in the maintenance and operational management of the unit under a long-term contract, ensuring the smooth and efficient functioning of the facility.

The FPSO has an impressive capacity, capable of producing up to 220,000 barrels of oil per day (bpd), and has been designed with cutting-edge technology to ensure both high efficiency and environmental responsibility. It is equipped to store up to 2 million barrels of crude oil, with the ability to offload the oil to tankers for transportation to market. Additionally, the *Prosperity* FPSO incorporates advanced safety systems and equipment to minimize the environmental impact and optimize the production process.

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ExxonMobil’s acquisition of the *Prosperity* FPSO is part of a broader strategy to bolster its operations in Guyana, which is becoming one of the world’s most promising oil provinces. The company’s commitment to the region is demonstrated by its aggressive development of the Stabroek Block, which is expected to continue ramping up production in the coming years.

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With the purchase of *Prosperity*, ExxonMobil is positioning itself for continued growth in the Guyanese oil sector, which is expected to remain a cornerstone of the company’s global energy portfolio for the foreseeable future. This acquisition also underscores the growing importance of offshore oil production to ExxonMobil’s strategy, particularly in high-potential regions like Guyana.