Exxon Mobil’s Guyana affiliate completed the purchase of FPSO Liza Unity from SBM Offshore for $1.26 billion, according to a Nov. 9 press release.
The purchase allows Exxon Mobil Guyana Ltd. to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO until 2033.
Net cash proceeds will primarily be used for the full repayment of the $1.14 billion project financing and to pay down SBM’s net debt.
The FPSO Liza Unity has been on hire since February 2022. Since 2023 it was operated through the integrated operations and maintenance model “combining SBM Offshore and Exxon Mobil’s expertise and experience delivering outstanding operational performance,” SBM said in the press release.
Recommended Reading
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Vår Selling Norne Assets to DNO
2024-05-08 - In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.