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ABS grants approval to SBM Offshore’s low-carbon NearZero FPSO design

OilNOW -
SBM Offshore announced on May 7, it has received approval in principle from the American Bureau of Shipping (ABS) for its NearZero floating production, storage and offloading (FPSO) concept. The design features a range of low-carbon technologies aimed at slashing...
News

Guyana on course to hit almost 1 million barrels of oil per day as 4th FPSO arrives 

Shikema Dey -
The start-up of ExxonMobil’s Yellowtail Development in the Stabroek Block draws near as the ONE GUYANA floating production, storage and offloading vessel (FPSO) officially arrived in country today.  On the vessel’s arrival, Minister of Natural Resources, Vickram Bharrat, shared, “The...
News

Hess maintains potential for up to 10 FPSOs offshore Guyana

OilNOW -
Hess Corporation said in its 2024 annual report that potential remains for up to 10 floating, production, storage and offloading vessels (FPSOs) offshore Guyana, as operator ExxonMobil progresses with a multi-phased development plan in the South American nation. To date,...
News

Cobalt Nova tanker takes double-lift from Guyana’s Liza field to Panama 

Kemol King -
A very large crude carrier (VLCC), the Cobalt Nova, executed a double lift offshore Guyana, transporting two million barrels of oil to Panama, marking another instance of back-to-back cargo loading from the ExxonMobil-operated Stabroek Block this year. The Cobalt Nova...
News

EnerMech secures pre-commissioning contract for ONE GUYANA FPSO

OilNOW -
EnerMech has been selected by SBM Offshore to perform pre-commissioning work on the ONE GUYANA floating production, storage and offloading (FPSO) vessel. The FPSO will arrive in Guyana this year. EnerMech said it executed pre-commissioning work for all three FPSOs...
News

Baker Hughes awarded supply contract by ExxonMobil for Guyana FPSOs 

OilNOW -
ExxonMobil Guyana has awarded a contract to energy technology company Baker Hughes to supply specialty chemicals and related services to its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek block.  Baker Hughes said the multiyear contract includes all topsides,...
News

Consultant report key to gov’t decision on Liza Unity’s optimization plans  

Shikema Dey -
The Guyanese government is awaiting a report from independent consultant IKM Acona AS before deciding on ExxonMobil’s plans to optimize the Liza Unity floating production, storage, and offloading (FPSO) vessel.  IKM Acona provides comprehensive consultancy and project management services to...
News

Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

OilNOW -
Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels.  “With the six ships that we have already sanctioned, we're going to be developing over five billion barrels of...
News

ExxonMobil completes purchase of Destiny FPSO for US$535 million

OilNOW -
ExxonMobil Guyana has purchased the Liza Destiny floating production, storage and offloading (FPSO) vessel, SBM Offshore said in a December 19 release. The transaction comprised a total cash consideration of c. US$535 million. The net cash proceeds will primarily be...
News

SBM Offshore expects US$1.9 billion in EBITDA this year, driven by Guyana FPSO sales

OilNOW -
SBM Offshore has updated its 2024 guidance for earnings before interest, taxes, depreciation and amortization (EBITDA)to US$1.9 billion, representing a 46% increase from the previous US$1.3 billion projection.  This significant boost is primarily attributed to the completion of the US$1.23...
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GGI to launch new call this July for proposals to drive capacity building in Guyana

The Greater Guyana Initiative (GGI) will open a new call for proposals in July, inviting projects aimed at advancing...

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