Project Overview

The One Guyana is a Floating, Production, Storage, and Offloading (FPSO) vessel for the Yellowtail development within the Stabroek Block, located around 200 kilometers offshore, Guyana. 

Built by SBM Offshore, the vessel is designed to produce an average of 250,000 barrels of oil per day, with associated gas treatment capacity of 450 million cubic feet per day and water injection capacity of 300,000 barrels per day. It is approximately 342 m long and 60 m wide. 

As the fourth-largest FPSO in Guyana, the vessel is designed with crucial environmental safeguards. It comprises installed spares on all gas processing compressors and ensures uninterrupted gas handling even during planned or unplanned maintenance events.

One Guyana FPSO Location

The One Guyana FPSO is located within the Stabroek Block, approximately 200 km offshore Guyana. It is on the North Coast of South America. The vessel is moored in approximately 1,800 meters of water depth in this offshore oil-producing region.

Project Background

One Guyana FPSO project is based on SBM Offshore’s industry-leading Fast4Ward® Programme, accelerating delivery leveraging a standardized, multi-purpose FPSO hull design combined with modular topside processing facilities. It facilitates a faster build and deployment schedule to meet the production targets. 

The vessel developed the Yellowtail fields, discovered in 2019. It enables state-of-the-art Subsea, Umbilicals, Risers and Flowlines (SURF) infrastructure, enabling production from 26 production wells and 25 water-alternating-gas (WAG) injection wells. 

The vessel was developed following earlier successful FPSO projects in the Stabroek Block, thereby contributing to Guyana’s status as a new oil-producing nation. First oil was achieved in August 2025, marking a milestone in the country’s energy sector development and offshore infrastructure capabilities.

One Guyana FPSO Project Ownership Details

SBM Offshore builds the One Guyana FPSO Project. ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, is the operator and holds a 45 percent interest in the Stabroek block. In contrast, Hess Guyana Exploration Ltd and CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, hold 30 percent and 25 percent interests, respectively.

One Guyana FPSO First Oil Production

One Guyana FPSO produced its first oil on August 8, 2025. It treats 450 million cubic feet of gas per day, injects 300,000 barrels of water per day, and stores around 2 million barrels of crude oil. Furthermore, One Guyana FPSO increased Guyana’s total offshore production capacity to over 900,000 bpd by late 2025.

It is SBM Offshore Company’s third project, brought into operation in 2025, following the first oil of FPSO Almirante Tamandare, operational since February 16, 2025, and FPSO Alexandre de Gusmão, on hire since May 24, 2025. Collectively, these three Fast4Ward® FPSOs increase installed capacity by 655,000 barrels of oil per day. 

Project Timeline

Project Cost & Financing Details

The One Guyana FPSO secured a project financing of USD 1.75 billion in July 2022 from a consortium of 15 international banks led by SBM Offshore. It covers the construction of the FPSO, which has an oil production capacity of 250,000 barrels per day and a storage capacity of 2 million barrels. 

The financing spotlights a two-year tenor post-completion, aligned with the charter duration, and a variable interest rate of SOFR plus a 2.2% margin.

Design & Engineering Details

One Guyana FPSO Contractors

One Guyana FPSO Project Investors

Conclusion

One Guyana FPSO is a Floating Production Storage & Offloading (FPSO) vessel developed for the Yellowtail within the Stabroek Block, Offshore Guyana. Achieving its first oil production in August 2025, the project marks a major milestone for Guyana’s oil production landscape.

As the fourth development in the Stabroek Block and one of the largest FPSO vessels in the country, the project substantially enhances Guyana's production capacity by approximately 250,000 barrels per day, pushing total offshore output beyond 900,000 barrels per day.

The successful oil production from the One Guyana FPSO enhances the country’s position as a rising oil producer in Latin America. It highlights the use of cutting-edge technologies and operational excellence. It depicts a strong platform for continued expansion and increased energy security, paving the way for further offshore projects in the region.

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