22 C
Georgetown
Saturday, April 17, 2021

SBM Offshore secures contracts for 3rd Guyana FPSO

Must Read

T&T Energy Minister Franklin Khan passes away

Trinidad and Tobago’s Energy Minister Franklin Khan has died. Loop News said in an article on Saturday morning that...

Guyana must accept it has crucial skills shortage for oil sector; temper local content expectations – Greenidge

The reality facing Guyana, the world’s most envied deepwater exploration hotspot, is that it suffers from a crucial shortage...

Schlumberger one step closer to setting up US$750,000 storage, calibration facility in Guyana

Oilfield Services Company Schlumberger is one step closer to setting up a source storage and calibration facility in Guyana...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

SBM Offshore said on Thursday ExxonMobil Guyana has awarded the Company contracts to perform Front End Engineering and Design (FEED) for the Floating Production, Storage and Offloading vessel (FPSO) for the Payara development project located in the Stabroek block offshore Guyana.

ExxonMobil is the operator of the Stabroek block with partners Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited.

Prior to necessary government approvals and project sanction, the contract award will initiate a limited release of funds to begin FEED activities and secure a Fast4Ward® hull.

The Fast4Ward® hull is a standard design with the flexibility to be utilized for projects across the deep water market. Following FEED and subject to government approvals in Guyana, project sanction and an authorization to proceed with the next phase, SBM Offshore will construct, install and then lease and operate the FPSO for a period of up to 2 years, after which the FPSO ownership and operation will transfer to EEPGL.

The FPSO, to be named Prosperity, will utilize a design that largely replicates the design of the Liza Unity FPSO. As such, the 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 FPSO will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The FPSO 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 is exploring options to maximize local content and Guyanese workforce development, building on efforts to date on the Liza Destiny and Liza Unity FPSOs.

SBM Offshore CEO Bruno Chabas commented: “We are pleased to report that ExxonMobil has selected SBM Offshore to award contracts for a third FPSO in Guyana, starting with the front-end engineering, to continue the world-class deep water development in Guyana.”

He said the successful teamwork with the company’s client ExxonMobil, on the Liza Destiny and Liza Unity FPSOs, provided a solid foundation for this award.

“This project will be adding further traction to SBM Offshore’s Fast4Ward® program as its design is incorporating our multi-purpose hull and a number of standardized modules. We look forward to continuing to build on our close collaboration with ExxonMobil in order to also make this project a success,” Mr. Chabas said.

The Payara development project is expected to receive approvals in Q1 2020 and will be ExxonMobil’s 3rd project offshore the South American country. Projected start-up for the project is 2023.

- Advertisement -
- Advertisement -

OilNOW TV

Latest News

T&T Energy Minister Franklin Khan passes away

Trinidad and Tobago’s Energy Minister Franklin Khan has died. Loop News said in an article on Saturday morning that...

Guyana must accept it has crucial skills shortage for oil sector; temper local content expectations – Greenidge

The reality facing Guyana, the world’s most envied deepwater exploration hotspot, is that it suffers from a crucial shortage of skills required for the...

Schlumberger one step closer to setting up US$750,000 storage, calibration facility in Guyana

Oilfield Services Company Schlumberger is one step closer to setting up a source storage and calibration facility in Guyana to support the offshore exploration...

Frontera loans CGX US$19M to cover costs for Guyana projects

Frontera Energy Corporation has disclosed that it loaned its joint venture partner, CGX Energy Inc., US$19 million so that it would be able to...

Drilling company operating offshore Guyana completes major acquisition

Noble Corporation announced Friday the completion of its acquisition of Pacific Drilling Company LLC, effective on April 15, 2021. Noble said Pacific Drilling's high specification...

More Articles Like This