Friday, September 29, 2023

Exxon awards multi-million-dollar contract to DOF Subsea for work in Stabroek Block

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DOF Subsea has been awarded a NOK$2.7 billion (US$256.1 million) contract by ExxonMobil to execute works in Guyana’s offshore Stabroek Block where 11 billion barrels of oil-equivalent have already been discovered.

DOF Subsea said the contract will last three years for two vessels to perform inspection, maintenance, and repairs, well intervention support, and light subsea construction activities to support the growing subsea infrastructure in the Stabroek Block.

The contract also includes a two-year option.

Two multi-purpose support construction vessels with 250-ton active heave compensated (AHC) crane and two work-class remotely operated vehicles (ROV) systems will be deployed; the first vessel will mobilise in late October while the second vessel is planned to commence in January 2023.

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues | OilNOW

“I am extremely happy with this contract award from ExxonMobil Guyana and entering the important and flourishing Guyanese market. The award further underlines DOF’s leading position in the IMR segment,” said Mons S. Aase, Chief Executive Officer (CEO) of DOF Subsea.

A total of 33 discoveries have been made in the Stabroek Block. Two massive floating oil production vessels are in operation – the Liza Destiny and the Liza Unity. And by 2025, two others – Prosperity and ONE GUYANA – will come online.

Exxon holds operatorship of the Stabroek Block with a 45% stake, while Hess holds 30% and CNOOC holds 25%.

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