Thursday, August 11, 2022

This South American country has a huge appetite for FPSOs

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There is no letting up in South America’s hottest new oil and gas basin where demand for FPSOs is growing as more hydrocarbons are found off the coast, adding to the multi-billion-barrel resources already discovered.

Take a brief by the numbers look, compiled by Jim McCaul, Managing Director at IMA/World Energy Reports, who says Guyana’s appetite for FPSOs is huge.

  • The Stabroek Block covers 26,800 sq km containing multiple prospects and plays
  • There are 20+ discoveries to date with 9 billion boe estimated recoverable resources
  • Up to 10 VLCC-size FPSOs are expected to be required for full field development
  • One FPSO is now in service: Liza Destiny with 120,000 b/d oil production capacity
  • Two FPSOs are on order: Liza Unity and Prosperity, each with 220,000 b/d oil production capacity
  • The procurement of a fourth FPSO is being negotiated, a unit with 220,000 to 250,000 b/d oil production capacity
  • There are plans for three to six more large capacity FPSOs to be contracted for Stabroek Block within this decade
  • Nearby Blocks off Suriname are expected to require additional multiple FPSOs
    Production capacity for Guyana floaters can increase 10-15%

    First 6 FPSOs can develop up to half of all oil found so far at Stabroek Block – ExxonMobil

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