ExxonMobil Finalizes $535M Liza Destiny FPSO Purchase

Group 1: Acquisition Details - ExxonMobil Guyana has acquired the FPSO unit, Liza Destiny, from SBM Offshore for $535 million, finalizing the purchase ahead of the FPSO's maximum lease term set to expire in December 2029 [1] - The transaction allows SBM Offshore to allocate$405 million towards repaying project financing debt, significantly reducing its net debt position [2] Group 2: Operational Capabilities - The Liza Destiny FPSO, converted from a VLCC, can process up to 120,000 barrels of oil per day, treat approximately 170 million cubic feet of associated gas daily, and inject up to 200,000 barrels of water per day, with a storage capacity of 1.6 million barrels [3] - Since its deployment in December 2019, the FPSO has been crucial for ExxonMobil's operations in the Stabroek Block, operating under a collaborative model with SBM Offshore to ensure high operational performance [6] Group 3: Strategic Implications - ExxonMobil's decision to assume ownership of the Liza Destiny FPSO underscores its commitment to optimizing long-term operations in the Stabroek Block, enhancing resource and cost management while maintaining production efficiency [7]