SBM Offshore said on Thursday its financial results at half-year are in line with management expectations and that staff and contractor teams continue to perform well despite the challenging conditions from the continuing pandemic. The company is also mobilizing for the departure of the Guyana-bound Liza Unity FPSO targeting oil production for Phase 2 of ExxonMobil’s Liza Development.
The topsides integration phase for the Liza Unity is completed and the onshore commissioning campaign is making significant progress. “The crew is currently mobilizing for the vessel departure from Singapore planned in the third quarter of this year,” the company said, pointing out that the project continues to target first oil in 2022.
“All our three value platforms, Ocean Infrastructure, Growing the Core and New Energies show good performance in line with our vision and commitment for providing safe, sustainable and affordable energy,” said Bruno Chabas, CEO of SBM Offshore. “Our staff and contractor teams continue to perform very well despite the challenging conditions from the continuing pandemic. We maintained our fleet uptime of 99%.” He said projects under construction continue to progress well despite the various challenges the pandemic continues to pose to project teams.
The Fast4Ward® MPF hull for the Prosperity FPSO being built for ExxonMobil’s third Guyana project has arrived safely in Singapore where the topsides fabrication phase is ongoing. SBM Offshore said the project is progressing in line with schedule with a planned completion in 2024.
The Liza Unity and Prosperity FPSO contracts cover a maximum period of two years of lease and operate within which period the units will be purchased by ExxonMobil.
SBM Offshore said under its Fast4Ward® program, the total number of MPF hulls ordered to date stands at six, five of which have been allocated to FPSOs Liza Unity, Sepetiba, Prosperity, Almirante Tamandaré and Alexandre de Gusmão. The Company currently has one remaining MPF hull supporting its tendering activity.
The company said its 2021 Directional revenue guidance remains around US$2.6 billion, of which around US$1.6 billion is expected from the Lease and Operate segment and around US$1 billion from the Turnkey segment. 2021 Directional EBITDA guidance remains around US$900 million, SBM Offshore said.