Amsterdam-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has divested the floating production storage and offloading (FPSO) vessel Liza Destiny.
ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, bought the FPSO vessel ahead of the maximum lease term, which would have expired in December 2029.
The purchase allows the 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. $535m.
SBM Offshore said the net cash proceeds would primarily be used for the full repayment of the $405m project financing and would decrease the company’s net debt position.
“The FPSO Liza Destiny has been on hire since December 2019 and 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,” the company’s statement reads.
