FPSO Prosperity Purchase by ExxonMobil Guyana Completed
SBM Offshore and ExxonMobil Guyana have completed the sale transaction of FPSO Prosperity for approximately US$1.23 billion. The deal was finalized ahead of the maximum lease term's expiration in November 2025. Under the agreement, ExxonMobil Guyana takes ownership while SBM Offshore will continue operations and maintenance until 2033. The net proceeds will be used to repay the US$0.98 billion project financing, reducing SBM Offshore's debt position. The FPSO Prosperity has been operational since November 2023, and will continue operating under an integrated model combining both companies' expertise.
SBM Offshore e ExxonMobil Guyana hanno completato la transazione di vendita dell'FPSO Prosperity per circa 1,23 miliardi di dollari USA. L'accordo è stato finalizzato prima della scadenza massima del contratto di locazione, prevista per novembre 2025. In base all'accordo, ExxonMobil Guyana acquisisce la proprietà, mentre SBM Offshore continuerà le operazioni e la manutenzione fino al 2033. I proventi netti saranno utilizzati per ripagare i finanziamenti per il progetto, pari a 0,98 miliardi di dollari USA, riducendo così la posizione debitoria di SBM Offshore. L'FPSO Prosperity è in funzione da novembre 2023 e continuerà a operare secondo un modello integrato che combina l'expertise di entrambe le aziende.
SBM Offshore y ExxonMobil Guyana han completado la transacción de venta del FPSO Prosperity por aproximadamente 1.23 mil millones de dólares estadounidenses. El acuerdo se finalizó antes de la expiración del plazo máximo de arrendamiento en noviembre de 2025. Según el acuerdo, ExxonMobil Guyana asumirá la propiedad mientras que SBM Offshore continuará con las operaciones y el mantenimiento hasta 2033. Los ingresos netos se utilizarán para repagar los 0.98 mil millones de dólares estadounidenses en financiamiento del proyecto, reduciendo así la posición de deuda de SBM Offshore. El FPSO Prosperity está operativo desde noviembre de 2023, y seguirá operando bajo un modelo integrado que combina la experiencia de ambas compañías.
SBM Offshore와 ExxonMobil Guyana는 FPSO Prosperity의 판매 거래를 약 12억 3천만 달러에 완료했습니다. 이 거래는 2025년 11월 최대 임대 기간 만료 이전에 최종 확정되었습니다. 계약에 따라 ExxonMobil Guyana가 소유권을 가지며, SBM Offshore는 2033년까지 운영 및 유지보수를 계속합니다. 순수익은 9억 8천만 달러의 프로젝트 자금을 상환하는 데 사용되어 SBM Offshore의 채무 부담을 줄입니다. FPSO Prosperity는 2023년 11월부터 가동 중이며, 두 회사의 전문성을 결합한 통합 모델로 계속 운영됩니다.
SBM Offshore et ExxonMobil Guyana ont finalisé la transaction de vente du FPSO Prosperity pour environ 1,23 milliard de dollars US. L'accord a été conclu avant l'expiration du délai de bail maximal en novembre 2025. Selon l'accord, ExxonMobil Guyana prend possession tandis que SBM Offshore continuera les opérations et la maintenance jusqu'en 2033. Les produits nets seront utilisés pour rembourser le financement de projet de 0,98 milliard de dollars US, réduisant ainsi la position d'endettement de SBM Offshore. Le FPSO Prosperity est opérationnel depuis novembre 2023 et continuera d'opérer selon un modèle intégré combinant l'expertise des deux entreprises.
SBM Offshore und ExxonMobil Guyana haben die Verkaufsabwicklung des FPSO Prosperity für ungefähr 1,23 Milliarden US-Dollar abgeschlossen. Der Deal wurde vor Ablauf der maximalen Mietlaufzeit im November 2025 finalisiert. Laut Vereinbarung übernimmt ExxonMobil Guyana das Eigentum, während SBM Offshore die Betriebs- und Wartungsarbeiten bis 2033 fortführt. Der Nettogewinn wird verwendet, um die 0,98 Milliarden US-Dollar Projektfinanzierung zurückzuzahlen, wodurch die Schuldenposition von SBM Offshore reduziert wird. Das FPSO Prosperity ist seit November 2023 in Betrieb und wird weiterhin unter einem integrierten Modell betrieben, das das Fachwissen beider Unternehmen kombiniert.
- Sale transaction completed for US$1.23 billion cash consideration
- Secured operations and maintenance contract until 2033
- Debt reduction through repayment of US$0.98 billion project financing
- Loss of long-term lease revenue stream from FPSO Prosperity
Amsterdam, November 7, 2024
SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Prosperity, ahead of the maximum lease term, which would have expired in November 2025. 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 transaction comprises a total cash consideration of c. US
The FPSO Prosperity has been on hire since November 2023 and 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.
The impact of the transaction will be included in the update of the Company’s 2024 guidance as part of the Third Quarter 2024 Trading Update, scheduled for November 14, 2024.
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.
More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Third Quarter 2024 Trading Update | November 14 | 2024 | |
| Full Year 2024 Earnings | February 20 | 2025 | |
| Annual General Meeting | April 9 | 2025 | |
| First Quarter 2025 Trading Update | May 15 | 2025 | |
| Half Year 2025 Earnings | August 7 | 2025 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Mobile: | +31 (0) 2 02 36 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
| Mobile: | +377 (0) 6 40 62 30 34 |
| E-mail: | evelyn.tachau-brown@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
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Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.
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FAQ
How much did ExxonMobil Guyana pay for FPSO Prosperity from SBM Offshore (SBFFF)?
Until when will SBM Offshore (SBFFF) operate the FPSO Prosperity after its sale?
How will SBM Offshore (SBFFF) use the proceeds from the FPSO Prosperity sale?
