FPSO ONE GUYANA Purchase by ExxonMobil Guyana Completed

Rhea-AI Summary

SBM Offshore (SBFFF) announced completion of the sale of FPSO ONE GUYANA to ExxonMobil Guyana on February 4, 2026 for approximately US$2.32 billion. SBM Offshore will continue to operate and maintain the unit through 2035 under an integrated operations and maintenance model.

The net cash proceeds were primarily used to fully repay the US$1.74 billion project financing, materially reducing SBM Offshore’s net debt. FPSO ONE GUYANA has been on hire since August 2025. The transaction impact will be reflected in 2026 guidance disclosed with the Full Year 2025 Earnings release on February 26, 2026.

Positive

• US$2.32 billion cash consideration received for FPSO ONE GUYANA
• Full repayment of US$1.74 billion project financing
• Continued operation and maintenance commitment through 2035
• FPSO on hire since August 2025, ensuring service continuity

Negative

• None.

News Market Reaction – SBFFF

+0.15%

1 alert

+0.15% News Effect

On the day this news was published, SBFFF gained 0.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Transaction consideration: US$2.32 billion Debt repayment: US$1.74 billion Maximum lease term expiry: August 2027 +5 more

8 metrics

Transaction consideration US$2.32 billion Total cash consideration for FPSO ONE GUYANA purchase

Debt repayment US$1.74 billion Full repayment of project financing from net cash proceeds

Maximum lease term expiry August 2027 Original maximum lease term for FPSO ONE GUYANA

Operations to 2035 SBM Offshore to operate and maintain FPSO ONE GUYANA up to 2035

On-hire since August 2025 FPSO ONE GUYANA hire start date

Employees More than 7,800 Worldwide SBM Offshore workforce mentioned in corporate profile

Full Year 2025 Earnings February 26, 2026 Scheduled date for Full Year 2025 Earnings release including 2026 guidance impact

Annual General Meeting April 15, 2026 AGM date from financial calendar

Market Reality Check

Price: $35.84 Vol: Volume 500 is below 20-da...

low vol

$35.84 Last Close

Volume Volume 500 is below 20-day average of 1,181, suggesting the 28.31% move occurred on relatively light trading. low

Technical Price $34.45 trades 166.64% above the 52-week low and 0.12% below the 52-week high, and is above the 200-day MA of 16.01.

Peers on Argus

SBFFF is up 28.31%, while key peers show modest changes (e.g., WYGPY +1.07%, TOL...

SBFFF is up 28.31%, while key peers show modest changes (e.g., WYGPY +1.07%, TOLWF +2.52% and others flat), indicating a stock-specific reaction rather than a broad sector move.

Market Pulse Summary

This announcement detailed ExxonMobil Guyana’s purchase of FPSO ONE GUYANA for US$2.32 billion, allo...

Analysis

This announcement detailed ExxonMobil Guyana’s purchase of FPSO ONE GUYANA for US$2.32 billion, allowing SBM Offshore to fully repay US$1.74 billion of project financing and materially reduce net debt. SBM Offshore will continue operating the unit through 2035, with financial effects to be reflected in 2026 guidance at the Full Year 2025 results on February 26, 2026. Investors may watch upcoming earnings and guidance to gauge how this shift in asset ownership affects revenues and cash flows.

Key Terms

fpso, project financing, alternative performance measures, ifrs, +4 more

8 terms

fpso technical

"purchase of FPSO ONE GUYANA, ahead of the maximum lease term"

A FPSO (Floating Production, Storage and Offloading unit) is a ship-like facility that sits offshore to process oil or gas pumped up from under the seabed, store the product, and transfer it to tankers or pipelines. For investors it matters because an FPSO turns remote reserves into cash: it represents a major capital asset and source of revenue but also concentrates operational, maintenance and safety risks that can affect production levels, costs and company valuation.

project financing financial

"used for the full repayment of the US$1.74 billion project financing"

Project financing is a way to fund a single, large project — such as a power plant, toll road, or mine — where lenders and investors look primarily to the project’s future cash flow and assets for repayment rather than the company’s overall balance sheet. It matters to investors because it isolates risk and return: like a mortgage tied to a single house, the project’s performance determines who gets paid and how much, affecting credit risk, expected returns, and how losses are absorbed.

alternative performance measures financial

"contains certain alternative performance measures (APMs) as defined by the ESMA"

Alternative performance measures are financial figures companies present alongside official accounting numbers that strip out certain costs or gains to highlight how management views underlying business trends. Think of it like a cook showing a recipe’s calories without the sauce to emphasize the main ingredients; investors use these adjusted numbers to compare performance and spot trends, but they can vary by company and require careful scrutiny to avoid misleading comparisons.

ifrs financial

"APMs as defined by the ESMA guidelines which are not defined under IFRS."

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

eu market abuse regulation regulatory

"inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation."

A set of EU-wide rules that prevent cheating in financial markets by banning insider trading, market manipulation, and misleading disclosure; it also requires timely public release of key company information so everyone can play on a level field. For investors, it reduces the risk that prices are driven by secret deals or false signals, making markets fairer and more reliable for deciding when to buy or sell — like referees enforcing fair play in a game.

inside information regulatory

"may contain inside information within the meaning of Article 7(1)"

Information not available to the public that, if known, would likely cause a company’s stock or bonds to rise or fall—for example, undisclosed earnings, deals, product results, or management plans. It matters because trading on that information gives an unfair advantage, can distort market prices, and is typically illegal or subject to strict rules, so investors watch for proper disclosure and compliance to protect fair, transparent markets.

forward-looking statements regulatory

"are statements of future expectations and other forward-looking statements based"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

esma guidelines regulatory

"APMs as defined by the ESMA guidelines which are not defined under IFRS."

ESMA guidelines are non-binding rulebooks published by the European Securities and Markets Authority that explain how financial laws should be applied across markets in the European Union. They matter to investors because they shape how companies and intermediaries report information, manage risks and run trading systems — like traffic rules that make road behavior predictable — which improves transparency, reduces surprises and can affect investment risk and costs.

AI-generated analysis. Not financial advice.

Amsterdam, February 4, 2026

SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO ONE GUYANA, ahead of the maximum lease term which would have expired in August 2027. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2035.

The transaction comprises a total cash consideration of c. US$2.32 billion. The net cash proceeds have been primarily used for the full repayment of the US$1.74 billion project financing and as such materially decreased SBM Offshore’s net debt position.

FPSO ONE GUYANA has been on hire since August 2025. It will continue to be operated through the integrated operations and maintenance model, combining SBM Offshore’s and ExxonMobil Guyana’s expertise and experience, and delivering outstanding operational performance.

The impact of the transaction will be included in the Company’s 2026 guidance as part of the Full Year 2025 Earnings release, scheduled for February 26, 2026.

Corporate Profile

SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.

Financial Calendar		Date	Year
Full Year 2025 Earnings		February 26	2026
Annual General Meeting		April 15	2026
First Quarter 2026 Trading Update		May 7	2026
Half Year 2026 Earnings		August 6	2026
Third Quarter 2026 Trading Update		November 12	2026

  

For further information, please contact:

Investor Relations

Wouter Holties
Corporate Finance & Investor Relations Manager

Phone:	+31 (0)20 236 32 36
E-mail:	wouter.holties@sbmoffshore.com
Website:	www.sbmoffshore.com

Media Relations

Giampaolo Arghittu
Head of External Relations

Phone:	+31 (0)6 212 62 333 / +39 33 494 79 584
E-mail:	giampaolo.arghittu@sbmoffshore.com
Website:	www.sbmoffshore.com

Market Abuse Regulation

This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

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 / or 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 ‘Impacts, Risks and Opportunities’ section of the 2024 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 2025 report, available on our website Half Year Earnings - SBM Offshore.

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^®” and “F4W^®” are proprietary marks owned by SBM Offshore. 

        

Attachment

• FPSO ONE GUYANA Purchase by ExxonMobil Guyana completed

FAQ

What did SBM Offshore (SBFFF) announce about the FPSO ONE GUYANA sale on February 4, 2026?

SBM Offshore announced completion of the sale of FPSO ONE GUYANA to ExxonMobil Guyana for ~US$2.32 billion. According to the company, proceeds were used to fully repay US$1.74 billion of project financing and will materially reduce net debt.

How will the US$2.32 billion proceeds from the FPSO ONE GUYANA sale affect SBFFF's balance sheet?

The proceeds were primarily used to fully repay the US$1.74 billion project financing, materially decreasing net debt. According to the company, this cash inflow reduces leverage and will be reflected in the 2026 guidance.

Will SBM Offshore continue to operate FPSO ONE GUYANA after the February 2026 sale (SBFFF)?

Yes. SBM Offshore will continue to operate and maintain FPSO ONE GUYANA through 2035 under an integrated operations and maintenance model. According to the company, operations combine SBM and ExxonMobil Guyana expertise to deliver performance.

When will the financial impact of the FPSO ONE GUYANA sale be reported for SBFFF?

The impact will be included in the company's 2026 guidance as part of the Full Year 2025 Earnings release on February 26, 2026. According to SBM Offshore, the effects will appear in that earnings disclosure.

Since when has FPSO ONE GUYANA been on hire and what does that mean for SBFFF operations?

FPSO ONE GUYANA has been on hire since August 2025, meaning the unit was operational under contract before the sale. According to the company, the hire status supports continuity while SBM continues to operate the unit until 2035.