SBM Offshore has confirmed the award of contracts for the next phase of the Payara development project located in the Stabroek block in Guyana.
Under these contracts, SBM Offshore will construct, install and then lease and operate the Prosperity FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL. The award follows completion of front-end engineering and design studies, completion of the multi-purpose hull, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers.
The Prosperity FPSO will utilize a design that largely replicates the design of the Liza Unity FPSO.
However, the Prosperity 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 also anticipates the award of contracts to Guyanese companies for work to be performed in Guyana. For example, the Company is looking at executing scope for fabrication and coating of a portion of the light structural steel for the FPSO in Guyana, which would be a first for SBM Offshore in country. Additionally, SBM Offshore is preparing to recruit and employ Guyanese engineers into the Payara project team. Both activities are focused on development of Guyanese capacity, building on efforts to date for the Liza Destiny and Liza Unity FPSOs.
Bruno Chabas, CEO of SBM Offshore, commented:“We are pleased to announce that ExxonMobil has awarded SBM Offshore the contracts for the third FPSO in Guyana, signed under the existing long term FPSO supply agreement with ExxonMobil. This award demonstrates the competitiveness of world class deep water reservoirs and the added value that SBM Offshore’s Fast4Ward® program brings to these large-scale developments. The SBM Offshore team is proud that the constructive collaboration with the ExxonMobil team continues, while contributing to the development of the offshore energy industry in Guyana.”
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