SBM Offshore Awarded Contracts for ExxonMobil’s Third FPSO in Guyana Based on its Fast4Ward® Program
November 07 2019 - 12:59PM
SBM Offshore Awarded Contracts for ExxonMobil’s Third FPSO in
Guyana Based on its Fast4Ward® Program
November 7, 2019
SBM Offshore is pleased to announce that
ExxonMobil subsidiary Esso Exploration and Production Guyana
Limited (EEPGL) has awarded the Company contracts to perform Front
End Engineering and Design (FEED) for a Floating Production,
Storage and Offloading vessel (FPSO) for the Payara development
project located in the Stabroek block in Guyana. EEPGL 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. The successful team work with our 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.”
Corporate Profile
SBM Offshore N.V. is a listed holding company
that is headquartered in Amsterdam. It holds direct and indirect
interests in other companies that collectively with SBM Offshore
N.V. form the SBM Offshore Group (“the Company”).
SBM Offshore provides floating production
solutions to the offshore energy industry, over the full product
lifecycle. The Company is market leading in leased floating
production systems delivered to date, with multiple units currently
in operation and has unrivalled operational experience in this
field. The Company’s main activities are the design, supply,
installation, operation and the life extension of floating
production solutions for the offshore energy industry.
As of December 31, 2018, Group companies employ
approximately 4,350 people worldwide, including circa 650
contractors, which are spread over offices in key markets,
operational shore bases and the offshore fleet of vessels. Group
Companies employ a further 400 people, working for the joint
ventures with two construction yards. For further information,
please visit our website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V.
directly and indirectly owns investments are separate entities. In
this communication “SBM Offshore” is sometimes used for convenience
where references are made to SBM Offshore N.V. and its subsidiaries
in general, or where no useful purpose is served by identifying the
particular company or companies.
The Management BoardAmsterdam, the Netherlands,
November 7, 2019
Financial Calendar |
Date |
Year |
Trading Update 3Q 2019 – Press Release |
November 14 |
2019 |
Full-Year 2019 Earnings – Press Release |
February 13 |
2020 |
Annual General Meeting of Shareholders |
April 8 |
2020 |
Trading Update 1Q 2020 – Press Release |
May 14 |
2020 |
Half-Year 2020 Earnings – Press Release |
August 6 |
2020 |
Trading Update 3Q 2020 – Press Release |
November 12 |
2020 |
For further information, please contact:
Investor RelationsBert-Jaap
DijkstraDirector Corporate Finance and IR
Telephone: |
+31 (0) 20 236 3222 |
Mobile: |
+31 (0) 6 21 14 10 17 |
E-mail: |
bertjaap.dijkstra@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Media RelationsVincent
KempkesGroup Communications Director
Telephone: |
+31 (0) 20 236 3170 |
Mobile: |
+31 (0) 6 25 68 71 67 |
E-mail: |
vincent.kempkes@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Disclaimer
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation. Some of the statements contained in this release that
are not historical facts are statements of future expectations and
other forward-looking statements based on management’s current
views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance, or
events to differ materially from those in such statements. Such
forward-looking statements are subject to various risks and
uncertainties, which may cause actual results and performance of
the Company’s business to differ materially and adversely from the
forward-looking statements. Certain such forward-looking statements
can be identified by the use of forward-looking terminology such as
“believes”, “may”, “will”, “should”, “would be”, “expects” or
“anticipates” or similar expressions, or the negative thereof, or
other variations thereof, or comparable terminology, or by
discussions of strategy, plans, or intentions. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in this release as anticipated, believed, or
expected. SBM Offshore NV does not intend, and does not assume any
obligation, to update any industry information or forward-looking
statements set forth in this release to reflect subsequent events
or circumstances. Nothing in this press release shall be deemed an
offer to sell, or a solicitation of an offer to buy, any
securities.
- SBM Offshore Awarded Contracts for ExxonMobil’s Third FPSO in
Guyana Based on its Fast4Ward® Program.pdf
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