The rapid development of Guyana’s offshore oil industry is giving SBM Offshore experience it intends to carry into other emerging deepwater markets, as the Dutch floating production specialist looks for its next generation of FPSO opportunities.
SBM Offshore Chief Executive Officer Øivind Tangen recently identified Africa, South America and the Caribbean as regions where the company sees potential for new floating production, storage and offloading vessels (FPSOs), pointing to growing demand for energy and concerns over energy security.
Guyana has become one of SBM Offshore’s most important operating markets, giving the company experience in delivering and operating multiple large-scale FPSOs in a rapidly developing offshore province.
SBM has been awarded six FPSO projects by ExxonMobil Guyana, with the latest being the Longtail development. The company is expected to design, construct and install the Longtail FPSO, subject to the required approvals and ExxonMobil’s final investment decision.
The Longtail FPSO is being designed to handle up to 1.2 billion cubic feet of gas per day and produce up to 250,000 barrels of condensate per day. SBM Offshore has described its gas-handling capability as the highest it has deployed on an FPSO.
But the significance of Guyana for SBM goes beyond the number of vessels delivered.
The company has repeatedly highlighted the speed at which Guyana’s offshore developments have progressed, particularly the ability to move from discovery to large-scale production in a relatively short period.
During a 2022 earnings call, Tangen described the pace of Guyana’s development as “pretty remarkable”, noting that reaching significant production less than seven years after discovery was unusual in the industry.
He also said SBM wanted to replicate aspects of that development model with other clients.
That experience has continued to accumulate as SBM expanded its Guyana fleet.
The company delivered the FPSO ONE GUYANA into production in 2025, following the Liza Destiny, Liza Unity and Prosperity FPSOs. ONE GUYANA started production on August 8, 2025, with a design capacity of 250,000 barrels of oil per day.
SBM has also explicitly linked its Guyana experience to subsequent projects.
When the company announced the front-end engineering and design award for the Longtail FPSO, it said the project would draw on the operational experience and expertise developed through the FPSOs already deployed in Guyana.
That creates a connection between Guyana’s offshore buildout and SBM’s wider international ambitions.
The company is now pursuing opportunities across several other emerging and established deepwater markets. In neighbouring Suriname, SBM is involved in the GranMorgu development, while Brazil remains one of its major deepwater markets.
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