Guyana, Brazil pushing FPSO demand through 2025 – Rystad Energy

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A representation of the Liza Destiny FPSO

From 2019 to 2021 Rystad Energy expects 33 FPSOs to be sanctioned as oil and gas activity picks up in the offshore sector.  15 of the FPSOs will require a production capacity above 80,000 barrels/day.

This high capacity demand comes mainly from the developments in Guyana and Brazil whereas operators such as Exxon, Equinor and Petrobras are stepping up their deepwater production.

Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2 and Payara developments come on stream, by 2023.

Dutch floater specialist SBM Offshore is awaiting the Liza 2 development sanction in Guyana so it can deliver its largest ever capacity FPSO for the ExxonMobil-operated project. The Company was awarded the Front End Engineering and Design (FEED) study for FPSO Liza 2.

ExxonMobil’s 11th and 12th discoveries announced on February 6 add to the ten previous discoveries that are estimated to contain gross recoverable resources of more than 5 billion boe and have established the potential for up to five FPSO vessels producing over 750,000 gross barrels of oil per day by 2025.