Fossil Energy – Operations & Maintenance Guyana
SBM Offshore has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA.
This framework agreement establishes the new terms related to the operations of the Guyana FPSO fleet for a period of 10 years up to 2033. The lease terms and durations remain the same for all units, with 10 years lease for FPSO Liza Destiny and up to 2 years lease for FPSOs Liza Unity, Prosperity and ONE GUYANA after which the FPSOs’ ownership will transfer to the client.
This contract supports SBM Offshore’s long-term business vision in Guyana enabling the Company to perform local and sustainable investments in people and infrastructure as well as to deploy its digital and operational technologies to the Guyana fleet. The estimated impact on the revenue backlog is around US$3 billion based on various operating and maintenance assumptions.
SBM Offshore will operate the units through an Integrated Operation Model, which encompasses an organization model including seconding ExxonMobil Guyana employees in some key onshore and offshore positions. This model will combine SBM Offshore and ExxonMobil Guyana’s experience and resources to increase team efficiency and foster synergies between the two companies.
