Singapore, February 1, 2023: First Lady of Guyana, Arya Ali, says the name of the Prosperity floating production, storage and offloading (FPSO) vessel represents what is in store for the people of the new oil producing South American country. She made this comment during the naming ceremony for the vessel, held on Wednesday, February 1 in Singapore.
“Our first FPSO sealed Guyana’s promising Destiny. The second called for Unity, and now the third will move us forward on the path of Prosperity,” Ali said. “What does Prosperity mean? It goes beyond wealth and encompasses the essence of being successful and thriving. As we move forward, we’re hopeful and optimistic that the state we find ourselves in echoes the name of this vessel and that the people of Guyana thrive and succeed.”
Prosperity is the third FPSO to be built by SBM Offshore for ExxonMobil’s Stabroek Block operations offshore Guyana, and the largest to date. Ali said the project, adding to Liza Phases 1 and 2, will provide opportunities for the country through local content penetration and increased revenues to be spent on national development priorities.
“Prosperity is more than just the symbol of development. She is a physical manifestation of the hard work and collaborative relationship between the people of Guyana and the collection of companies doing business in our oil and gas sector. This vessel strengthens that bond between us, creating another link to a brighter future for all involved,” she said.
SBM Offshore’s Chief Executive Officer, Bruno Chabas, said the company is honored to play a role in the development of the resources in Guyana.
“It is a journey that we started a few years ago along with ExxonMobil,” Chabas said. He pointed out that Prosperity will be the eight FPSO to be delivered by SBM Offshore to ExxonMobil, which demonstrates the confidence Exxon has had in the company.
ExxonMobil President, Global Projects, Jon Gibbs said the completeness and quality of Prosperity have surpassed even that of the Liza Unity, which has become known for its SUSTAIN-1 notation from the American Bureau of Shipping (ABS). The Prosperity team, he said, built on the successes of these previous projects to deliver a world class FPSO.
“They took every learning from Liza Destiny and Liza Unity, openly looked at every one of those and decided how they could do better, and they did,” Gibbs said.
Chris Ong, Chief Executive Officer of Keppel Offshore & Marine Ltd., said the company started work on the Prosperity project in the midst of the COVID-19 pandemic. Despite these challenges, including the loss of a supervisor working on the project – Ali Muhammad Subur – the company was able to advance construction work.
“I would like to express Keppel Offshore and Marine’s deep appreciation to ExxonMobil and SBM for their support in overcoming the challenges together as we worked towards the successful completion of the Prosperity FPSO,” Ong said.
Prosperity will leave Singapore for Guyana in the first quarter of the year, targeting first oil and gradual production ramp-up before the year ends. It will take combined production to 580,000 barrels of oil per day (bpd). The project will tap into 600 million oil-equivalent barrels from the Payara and Pacora fields.
ExxonMobil, the operator of the Stabroek Block, plans to place six FPSOs offshore Guyana by 2027.
