06:24 AM EDT, 03/24/2026 (MT Newswires) -- Exxon Mobil's ( XOM ) Guyana affiliate has awarded contracts to SBM Offshore to perform front-end engineering and design studies for a floating production, storage, and offloading vessel for the Longtail project in offshore Guyana, SBM said Tuesday.

Financial details of the contracts were not disclosed.

SBM said the contracts award triggers an initial release of funds by Exxon Mobil Guyana to begin design activities and allocate a hull.

The company said it will construct and install the vessel subject to government approvals, a final investment decision by Exxon Mobil ( XOM ), and approval to pursue the second phase of work.