Fabrication work is set to begin on the giant Fast4Ward® MPF hull for ExxonMobil’s Payara Development offshore Guyana that will see the Prosperity FPSO pushing total oil production in the South American country to more than 500,000 bpd by 2024.
SBM Offshore, the company contracted by ExxonMobil to construct, install and operate the vessel, said in a Q3 trading update last week that work is progressing as planned and the project team is preparing for the start of fabrication in Singapore.
Guyana FPSO contributes to 16% revenue increase for SBM Offshore
“The Fast4Ward® MPF hull for the project has been completed. The project is progressing in line with client schedule with a planned completion in 2024,” SBM Offshore said.
The Prosperity FPSO will utilize a design that largely replicates that of the Liza Unity FPSO which is set for delivery in 2022 for the second phase of the Liza Development in Guyana.
The FPSO design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules. The vessel is being designed to produce 220,000 barrels of oil per day, with associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. It will be spread moored in water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil.
SBM Offshore has said it anticipates the award of contracts to Guyanese companies for work to be performed in the country for the Prosperity FPSO such as fabrication and coating of a portion of the light structural steel. Additionally, the company is preparing to recruit and employ Guyanese engineers into the Payara project team.
“Both activities are focused on development of Guyanese capacity, building on efforts to date for the Liza Destiny and Liza Unity FPSOs,” SBM Offshore said.