2023-05-02 06:48:56 ET
SBM Offshore ( OTCPK:SBFFY ) ( OTCPK:SBFFF ) said Tuesday it signed a 10-year operations and maintenance agreement with Exxon Mobil ( XOM ) for four floating production, storage and offloading vessels deployed or to be deployed offshore Guyana.
SBM ( OTCPK:SBFFY ) ( OTCPK:SBFFF ) estimated the impact on its revenue backlog at ~$3B.
The framework agreement establishes new terms related to the operations of the Guyana FPSO fleet for 10 years up to 2033; lease terms and durations remain the same for all units, with 10 years lease for FPSO Liza Destiny and up to two years lease for FPSOs Liza Unity , Prosperity and One Guyana , after which the FPSO's ownership will transfer to the client.
Exxon ( XOM ) said last week it would move forward with its fifth project on Guyana's offshore Stabroek block .
For further details see:
SBM Offshore wins $3B pact from Exxon for four FPSOs operating in Guyana