SBM Offshore FPSO’s miles-long journey ends in Guyana as first oil date approaches (Gallery)

SBM Offshore’s FPSO One Guyana Reaches Guyana as First Oil Date Nears
April 16, 2025, by Melisa Cavcic

SBM Offshore, headquartered in the Netherlands and known for providing services related to offshore floating facilities, has welcomed its new FPSO vessel, destined for ExxonMobil’s fourth oil project in the Stabroek block off Guyana’s coast. The arrival of FPSO One Guyana in Guyana signals its support for ExxonMobil’s Yellowtail development in the Stabroek block, with the first oil expected later this year.

ExxonMobil approved its fourth project in the Stabroek block, including six drill centers and numerous production and injection wells, in April 2022. Subsequently, they finalized a contract with SBM Offshore for the FPSO supply. The FPSO One Guyana arrived on schedule after a journey of over 11,000 nautical miles from Singapore to Guyana in 56 days. This FPSO will join three other units already operational in Guyana.

SBM Offshore’s Chief Operating Officer, Alex Glenn, praised the teams for their dedication in making the FPSO One Guyana project a reality. This vessel, SBM Offshore’s fourth in Guyanese waters, has impressive production and storage capacities and will be stationed in water depths of around 1,800 meters. The company plans to deploy more FPSOs to maximize the vast oil resources in the Stabroek block.

SBM Offshore’s recent financial moves, including securing a credit facility and finalizing leaseback financing deals, demonstrate the company’s strength in the industry.