SBM Offshore wins Guyana FEED contracts for ExxonMobil FPSO

AMSTERDAM, March 24, 2026 – SBM Offshore has been awarded FEED contracts by ExxonMobil Guyana for a new FPSO destined for the Longtail development in Guyana, SBM Offshore announced on Tuesday.

The deal enables SBM Offshore to allocate a hull for the project and begin early-stage work. The company will also construct and install the FPSO, pending government approval of the proposed development plan and ExxonMobil’s FID.

The FPSO will be built with the capacity to handle 34 mcm (1.2 bcf) of gas and 250,000 barrels of condensate per day, and store around 2 million barrels. Ownership of the vessel will be transferred to ExxonMobil before the launch of operations in Guyana, with construction partially funded by senior loans repaid upon transfer.

SBM Offshore will operate the FPSO under a joint model with ExxonMobil, drawing on experience from five earlier FPSOs in Guyana, namely the Liza Destiny, Liza Unity, Prosperity, ONE GUYANA and Jaguar.

“SBM Offshore is well positioned to support the Longtail development, a major gas play demanding the highest gas handling capacity ever deployed on an FPSO. Our teams remain fully committed to supporting the success of this project and ExxonMobil’s long-term energy development strategy,” said SBM Offshore CEO Øivind Tangen.

Amsterdam-listed SBM Offshore is a global provider of deepwater floating production assets and services for oil and gas production, as well as a manufacturer of offshore wind infrastructure.

Photo of Jaguar FPSO courtesy of SBM Offshore

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