The Prosperity plays a pivotal role in developing the Payara field within the offshore Stabroek block. Credit: SBM Offshore.

ExxonMobil Guyana, an affiliate of Exxon Mobil, has completed the acquisition of the Prosperity floating production storage and offloading (FPSO) vessel from SBM Offshore.

The transaction, valued at approximately $1.23bn, was finalised ahead of the maximum lease term set for November 2025.

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The deal enables ExxonMobil Guyana to take ownership of the FPSO, while SBM Offshore will retain responsibility for the operation and maintenance of the unit until 2033.

The cash consideration will be allocated mainly to repay the $980m project financing, consequently reducing SBM Offshore’s net debt.

The FPSO will persist under the joint operations and maintenance model that harnesses the combined expertise of SBM Offshore and ExxonMobil.

The financial implications of this acquisition will be reflected in SBM Offshore’s updated 2024 guidance, which is to be announced during the third quarter 2024 Trading Update on 14 November 2024.

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The Prosperity arrived in Guyana in April 2023 and is the third FPSO in the region, joining Liza Destiny and Liza Unity. It plays a pivotal role in developing the Payara field within the offshore Stabroek block.

The FPSO was built in 2020 and commenced oil production in November 2023 with a production capacity of around 220,000 barrels per day (bpd) and a storage volume of two million barrels.

The vessel is moored at a depth of 1,900m, with a gas treatment capacity of 400 million cubic feet per day and a water injection capacity of 250,000bpd.

The Prosperity FPSO features multi-purpose hull combined with several standardised topside process modules.

Last month, SBM Offshore sold a 13.5% stake in the FPSO Sepetiba operations to China Merchants Financial Leasing, retaining a 51% majority.

The FPSO Sepetiba is positioned at the Mero field in the Santos Basin, 180km off Rio de Janeiro.