Fossil Energy – Ownership
SBM Offshore and ExxonMobil Guyana 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 until 2033.
The transaction comprises a total cash consideration of c. US$535 million. The net cash proceeds will primarily be used for the full repayment of the US$405 million project financing and as such will decrease SBM Offshore’s net debt position.
The FPSO Liza Destiny has been on hire since December 2019. Since 2023 has and will continue to be operated through the integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s expertise and experience delivering outstanding operational performance.
