Latest update June 1st, 2026 12:37 AM
Dutch manufacturer expects potential increase in the lease duration for FPSOs in Guyana
The Liza Destiny that was manufactured by SBM Offshore
Kaieteur News – SBM Offshore, the Dutch manufacturer which constructed Guyana’s first Floating Production Storage and Offloading (FPSO) vessel, announced yesterday that it expects a potential increase in the lease duration for FPSOs in Guyana. It did not divulge further details on this front.
Be that as it may, Kaieteur News would have reported during this year that the company had planned to recover the full cost of its investments in these vessels by selling same to ExxonMobil after two years of leading operations for each unit.
While the sale price remains unknown, public financial statements by SBM reveal that the Liza Destiny, which is Guyana’s first Floating Production Storage and Offloading vessel, is being leased for approximately US$1.2B while the second FPSO, the Liza Unity, will be leased for approximately US$1.6B.
The FPSO Liza Destiny had arrived in Guyanese waters in August 2019 and, following receipt of its certificate acceptance from the client, joined SBM Offshore’s fleet on November 1, 2019. First oil was achieved on December 20, 2019.
With respect to the Liza Unity, ExxonMobil had awarded the Liza Unity contracts to SBM Offshore on May 10, 2019. Under these contracts, the company will construct, install and thereafter lease and operate FPSO Liza Unity for a period of up to two years after which the ownership and operations will transfer to ExxonMobil. The FPSO Liza Unity design is based on the Fast4Ward® programme as it incorporates the Company’s new-built, multi-purpose hull combined with several standardized topsides modules. On October 16, 2019, the Company had announced that it completed the project financing of FPSO Liza Unity for a total of US$1.14 billion.
In November last year, the company was awarded contracts to perform front end engineering and design for a third FPSO called Prosperity which would be used for ExxonMobil’s Payara development project offshore Guyana. The award was the first under the long-term FPSO supply agreement with ExxonMobil and secured SBM Offshore’s third Fast4Ward hull under construction. The next phase of the FPSO Prosperity project has been given government’s blessings, as such, SBM has moved onto its construction and installations and thereafter lease and operate FPSO Prosperity for a period of up to two years.
FPSO Prosperity will utilize a design that largely replicates the design of FPSO Liza Unity. As such, FPSO Prosperity will become the second vessel built under the Company’s Fast4Ward® programme.
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