ExxonMobil Guyana Ltd., a subsidiary of ExxonMobil Corp., has entered into an agreement with SBM Offshore to purchase the floating, production, storage and offloading (FPSO) vessel Prosperity ahead of the maximum lease term, which would have expired in November 2025.

The FPSO has been on lease since November 2023. The purchase sees ExxonMobil Guyana take ownership of the unit, which is currently operated at Payara, Guyana’s third offshore oil development on the Stabroek block, while SBM Offshore will continue to operate and maintain the FPSO. to 2033 (OGJ online, November 14, 2023).

The transaction includes a total cash consideration of $1.23 billion.

ExxonMobil started production at Payara in November 2023. Oil production from the Prosperity FPSO reached around 230,000 b/d earlier this year as part of an increase in oil production from the Stabroek block to 640,000 b/d (OGJ online, February 20, 2024).