Topside module fabrication for the Jaguar floating production, storage and offloading vessel (FPSO) is progressing as planned, SBM Offshore said on Thursday, while similar fabrication for the GranMorgu FPSO is expected to begin in the second half of 2025.
Both FPSOs had their Fast4Ward® Multi-Purpose Floater (MPF) hulls delivered, SBM Offshore said in its first quarter 2025 trading update. First oil from Jaguar is targeted for 2027.
Jaguar is being built for ExxonMobil’s Whiptail development, the sixth oil project being pursued offshore Guyana. It will be the fifth FPSO delivered by SBM Offshore for ExxonMobil’s operations in the country. The unit is designed to produce up to 250,000 barrels of oil per day (b/d).
Meanwhile, the GranMorgu FPSO, designed with a production capacity of 220,000 b/d, will support TotalEnergies’ Block 58 development offshore Suriname. SBM Offshore said topside fabrication is expected to begin later this year.
Combined, the Jaguar and GranMorgu vessels will add 470,000 b/d of production capacity to the Guyana-Suriname Basin. When these projects come online — Jaguar in 2027 and GranMorgu in 2028 — the offshore production capacity of Guyana and Suriname is expected to exceed 1.6 million b/d, including current and planned developments.
The update comes as SBM Offshore prepares to bring three FPSOs into operation this year. Among them is FPSO ONE GUYANA, which was delivered in April and has arrived in Guyana. SBM Offshore said the installation and hook-up campaign is progressing, with first oil targeted for the third quarter of 2025.
Also in South America, SBM Offshore said the FPSO Alexandre de Gusmão arrived safely at its offshore Brazil location in March 2025. The vessel’s hook-up and installation have been completed, with first oil expected around mid-year. FPSO Almirante Tamandaré went formally on hire as of February 16, 2025. Both vessels are for Petrobras offshore Brazil.
For the FSO Trion project, SBM Offshore said engineering and procurement are progressing as planned, and fabrication of the disconnectable turret mooring system has started. This order is for Woodside’s project in Mexico.
SBM Offshore also noted that under its Fast4Ward® program, it has ordered 10 MPF hulls. Four are in operation, four have been delivered and allocated to projects under construction, and two are currently under construction. SBM said this reflects strong market demand and active client discussions for future FPSO projects.
