Exxon’s 4th Guyana FPSO: Construction of topsides commences in Singapore

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SBM Offshore said construction of the topsides modules for the ‘ONE GUYANA’ floating production, storage, and offloading (FPSO) vessel and the accompanying marine structures has commenced in Singapore.

Two steel strike ceremonies were held in both Keppel FELS and Dynamac yards in September, marking this key milestone.

ONE GUYANA is the fourth and latest sanctioned FPSO under construction by SBM Offshore for its long-standing client, ExxonMobil, the shipbuilder said.

SBM Offshore completed the US$1.75 billion financing for the floater three months ago.

The FPSO will be used for the Yellowtail project. With approval announced in April, the Yellowtail project is designed to produce 250,000 barrels per day. It is expected to achieve first oil in 2025 and will take production offshore Guyana over 830,000 bpd.

The project is expected to make Guyana the world’s largest per capita oil producer.

ExxonMobil is the operator of the Stabroek Block with a 45% stake. Its partners are Hess and CNOOC with 30% and 25% respectively.

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