SBM Offshore and ExxonMobil Complete Purchase of FPSO Liza Destiny

Amsterdam, December 19, 2024

SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Liza Destiny, ahead of the maximum lease term, which would have expired in December 2029. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.

The Impact of the Purchase

This purchase marks a significant milestone for both companies involved. ExxonMobil Guyana will now have full ownership of the FPSO Liza Destiny, giving them more control over their operations in the region. SBM Offshore, on the other hand, will retain the responsibility of operating and maintaining the FPSO, ensuring that it continues to run smoothly and efficiently.

The FPSO Liza Destiny has been a key asset in ExxonMobil’s operations in Guyana, where the company has made several significant discoveries in recent years. By taking ownership of the FPSO, ExxonMobil can further strengthen its presence in the region and maximize the production potential of its offshore fields.

For SBM Offshore, this transaction represents a strategic move to focus on their core business of operating and maintaining FPSOs. By transferring ownership of the FPSO Liza Destiny to ExxonMobil, SBM Offshore can streamline their operations and resources, allowing them to better serve their clients and pursue new opportunities in the market.

Overall, the completion of this purchase solidifies the partnership between SBM Offshore and ExxonMobil Guyana, setting the stage for future collaboration and growth in the offshore oil and gas industry.

Effects on Individuals

As an individual, the purchase of FPSO Liza Destiny may not have a direct impact on you. However, it could indirectly affect you through changes in the oil and gas industry. With ExxonMobil Guyana taking ownership of the FPSO, there may be new job opportunities created in the region as the company expands its operations. Additionally, the increased production capacity of the FPSO could lead to changes in oil prices, which may affect your daily expenses.

Effects on the World

The purchase of FPSO Liza Destiny by ExxonMobil Guyana and the continued operation by SBM Offshore could have broader implications for the world. As ExxonMobil increases its production capacity in Guyana, it could contribute to the global supply of oil and gas, potentially impacting energy markets worldwide. Additionally, the partnership between SBM Offshore and ExxonMobil sets a precedent for collaboration in the offshore industry, which could lead to more efficient and sustainable practices in the future.

Conclusion

The completion of the purchase of FPSO Liza Destiny by ExxonMobil Guyana and the continued partnership with SBM Offshore marks a significant achievement in the offshore oil and gas industry. This transaction not only strengthens the operations of both companies but also paves the way for future innovation and collaboration in the sector. As we move forward, it will be interesting to see how this purchase impacts the industry and the world at large.