[Guyana] Liza-2 FPSO Liza Unit -Divested

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[Guyana] Liza-2 FPSO Liza Unit -Divested

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SBM Offshore Awarded Contracts for ExxonMobil’s Second Liza FPSO Based on its Fast4Ward Program
July 3, 2018

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 second Floating Production, Storage and Offloading vessel (FPSO) for the Liza development located in the Stabroek block in Guyana. EEPGL is the operator of the Stabroek block with partners Hess Guyana Exploration Ltd. and CNOOC Nexen Petroleum Guyana Limited.

Following FEED and subject to requisite government approvals, 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 second Liza FPSO design is based on SBM Offshore’s industry leading Fast4WardTM program as it 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 1,600 meters and will be able to store around 2 million barrels of crude oil.

With respect to FPSO Liza Destiny (Liza 1), progressing according to plan and currently under conversion in Singapore, discussions with the client are underway regarding a potential accelerated transfer of ownership using the purchase option in the 10 year lease contract. The outcomes of these discussions are expected to lead to a transfer of the FPSO ownership and operation after a period of up to 2 years.

SBM is exploring options to maximize local content and Guyanese workforce development in preparation for the operating phase of both Liza FPSOs.

SBM Offshore CEO Bruno Chabas commented:

“We are pleased to report that ExxonMobil has selected SBM Offshore to award contracts for the second Liza FPSO, starting with the front-end engineering, for the development of the second phase of the world-class deep water development in Guyana. The successful team work with our client ExxonMobil on the FPSO Liza Destiny project provided a solid foundation for this award. This project will be adding further traction to SBM Offshore’s Fast4WardTM 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.”
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Re: [Guyana] Liza-2 FPSO (Liza Unity)

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SBM Offshore’s first Fast4Ward® hull, the FPSO Liza Unity has taken onboard her first topsides modules at Singapore yard, says SBM Offshore.

The mooring and riser system integration, as well as other work scope, were completed in dry dock at Keppel FELS. The Fast4Ward® Multi-Purpose Floater (MPF) hull has now moved to the integration quayside in Keppel Shipyard Tuas, where the topsides integration phase started with the progressive lifting of the topsides modules.

This latest milestone is in line with the Liza Phase 2 project schedule, which targets departure of the FPSO to its final offshore location in Guyana, on ExxonMobil's operated Liza field, joining the other FPSO Liza Destiny which is currently working in the field, sometime next year, with start-up in 2022.

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#SBMOffshore #fpso #keppelshipyard #exxonmobil #upstream #offshore #oilandgas #oilandgasworld #oilandgasjobs #oilandgaslife #lizaunity #fast4ward
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Re: [Guyana] Liza-2 FPSO (Liza Unity)

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Heavy lifting campaign involving close to 26,000T of topsides have been successfully completed for FPSO Liza Unity at Keppel Shipyard Ltd., Singapore since the vessel came out of dry-dock in October 2020.

The FPSO is SBM Offshore’s first Fast4Ward® design with target first oil in 2022 in line with ExxonMobil's planning.

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Re: [Guyana] Liza-2 FPSO (Liza Unity)

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Liza Unity FPSO begins her voyage to Guyana and becomes world’s first FPSO to receive SUSTAIN-1 class notation

September 9, 2021

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The Liza Unity FPSO started its voyage to Guyana, having departed from Keppel shipyard in Singapore. The FPSO is expected to arrive in Guyana late this year. Once the FPSO arrives at the Liza field in Guyanese waters, she will be hooked up to the seabed, which will then be followed by installation of umbilicals and risers, allowing the next phase of operations to start.

The Liza Unity FPSO has also been awarded the SUSTAIN-1 notation by ABS, the Classification Society. This means that the design and construction of the unit is assessed against and adheres to the requirements of the ABS Guide for Sustainability Notations, aligned with the applicable UN Sustainable Development Goals. The Liza Unity is the world’s first FPSO to achieve such recognition for sustainability for its design, documentation and operational procedures. Examples of features recognized by the SUSTAIN-1 class notation include energy efficiency management, mitigation of ozone depleting substances and management of hazardous materials throughout the life cycle.

Olivier Icyk, Managing Director Floating Production Solutions, commented: “We are pleased to see that the Liza Unity FPSO is ready for the next phase and we look forward to cooperating closely with our client ExxonMobil to ensure that the start-up is a success. We are also very proud to see Liza Unity obtaining the SUSTAIN-1 class notation, the world’s first FPSO to do so. At SBM Offshore we work closely with our clients and our supply chain towards the goal of reducing emissions from our products. This is an important step in our journey to deliver safe, sustainable and affordable energy from the oceans.”
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Re: [Guyana] Liza-2 FPSO (Liza Unity)

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Keppel delivers Guyana's second FPSO

Keppel Offshore & Marine’s (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has delivered the Liza Unity, a mega Floating Production Storage and Offloading vessel (FPSO), to SBM Offshore with no loss-time incidents. This follows the delivery of Guyana’s first FPSO by Keppel O&M in 2019.

Mr Chris Ong, CEO of Keppel O&M, said, “We are pleased to support Guyana with the second FPSO for the Liza field in the Stabroek block. The delivery of Liza Unity reinforces Keppel O&M as the world leader in the integration of FPSOs and extends our track record of more than 120 FPSO projects.

“Despite the operational challenges posed by COVID-19, we have been able to harness Keppel O&M’s strengths across the group to deliver the Liza Unity to our customer’s satisfaction. This is the 26th major project for SBM Offshore and is a testament to the strong partnership that we have forged over decades of collaboration since 1981 when Keppel delivered the world’s first FPSO conversion to them."

Keppel O&M’s scope of work included the fabrication of several topside modules, the riser balcony, the spread-mooring and the umbilical support structures, as well as the installation and integration of associated equipment and all topside modules onto the FPSO.

Keppel O&M has also commenced work on the third FPSO unit earmarked for Guyana, the Prosperity FPSO. The vessel hull recently arrived at Keppel O&M’s yard in Singapore and work onboard has commenced.

Liza Unity is the second in a series of three FPSOs for the Stabroek block offshore Guyana chartered by the consortium of ExxonMobil, CNOOC, and Hess. The FPSO, which will be spread moored in water depth of about 1,600 metres, is designed to produce approximately 220,000 barrels of oil per day, with 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 able to store approximately 2 million barrels of crude oil.
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Re: [Guyana] Liza-2 FPSO Liza Unity

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Exxon's second production unit arrives in Guyanese waters

Oct 26 (Reuters) - Exxon Mobil Corp's (XOM.N) second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country's waters, the U.S. oil company said.

The production storage and offloading (FPSO) facility is expected to add 220,000 barrels per day (bpd) of oil capacity to Guyana's current 120,000-bpd output when it reaches maximum capacity. Its startup is expected for early 2022.

Exxon's first FPSO, the Liza Destiny, inaugurated the nation's output in late 2019 from the Liza-1 well, discovered in 2015. About 10 billion barrels of recoverable resources have so far been discovered by Exxon and partners Hess Corp (HES.N) and CNOOC (0883.HK) at the vast Stabroek block offshore Guyana, which includes Liza, Payara and many other projects.

"The Liza Unity FPSO vessel has arrived in the Stabroek block offshore Guyana after traveling nearly for 53 days and more than 11,000 nautical miles on its journey from Singapore," Exxon said in a statement.

The floating facility, which can treat 400 million cubic feet of associated gas per day and store around 2 million barrels of crude, will be connected to the spread mooring before preparation for testing and commissioning, the company added.

The Liza project's $6-billion second phase will include a total of six drill centers and approximately 30 wells.
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Re: [Guyana] Liza-2 FPSO Liza Unity

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SBM Offshore has announced that FPSO Liza Unity has produced first oil as of February 11, 2022 and is formally on hire

The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry leading Fast4Ward® program which incorporates the Company’s new build, multi-purpose floater hull combined with several standardized topsides modules.

The FPSO is installed at the Liza field, which is located circa 200 kilometers offshore Guyana in the Stabroek block. ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

Bruno Chabas, CEO of SBM Offshore, commented:

“We are proud of the fact that FPSO Liza Unity has started production. The FPSO, with its relative low emission intensity will enable efficient production of these world-class oil reserves. The combined client and SBM Offshore team that delivered this project have done an outstanding job. The FPSO was delivered in three and a half years following the start of the engineering phase, which is a significant achievement. It demonstrates the added value our Fast4Ward® concept brings to all stakeholders.”
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Re: [Guyana] Liza-2 FPSO Liza Unity

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SBM Offshore signed a 10-year Operations and Maintenance Enabling Agreement for its Guyana FPSO fleet with ExxonMobil Guyana

02 May 2023

SBM Offshore is pleased to announce it has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka “ExxonMobil Guyana”) for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. This framework agreement establishes the new terms related to the operations of the Guyana FPSO fleet for a period of 10 years up to 2033. The lease terms and durations remain the same for all units, with 10 years lease for FPSO Liza Destiny and up to 2 years lease for FPSOs Liza Unity, Prosperity and ONE GUYANA after which the FPSOs’ ownership will transfer to the client. This contract supports SBM Offshore’s long-term business vision in Guyana enabling the Company to perform local and sustainable investments in people and infrastructure as well as to deploy its digital and operational technologies to the Guyana fleet. The estimated impact on the revenue backlog is around US$3 billion based on various operating and maintenance assumptions.

SBM Offshore will operate the units through an Integrated Operation Model, which encompasses an organization model including seconding ExxonMobil Guyana employees in some key onshore and offshore positions. This model will combine SBM Offshore and ExxonMobil Guyana’s experience and resources to increase team efficiency and foster synergies between the two companies.

Bruno Chabas, CEO of SBM Offshore commented:

“We are very pleased with the contract concluded with ExxonMobil Guyana leveraging both companies’ recognized operating excellence. This contract capitalizes on our developments in Guyana to date, positioning the Company for long-term operations in the country. This Integrated Operation Model is the first of its kind in the industry and extends our relationship with ExxonMobil Guyana by integrating further our teams. We believe it is the optimal solution to achieve excellence in the operation of Guyanese assets bringing value to all stakeholders and setting a new performance benchmark for the industry.”
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Re: [Guyana] Liza-2 FPSO Liza Unity

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FPSO Liza Unity Purchase by ExxonMobil Completed

SBM Offshore and ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of FPSO Liza Unity, a few months ahead of the end of the maximum lease term, in February 2024. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.

The transaction comprises a total cash consideration of c. US$1.26 billion. The net cash proceeds will primarily be used for the full repayment of the US$1.14 billion project financing and as such will decrease SBM Offshore’s net debt position.

The FPSO Liza Unity has been on hire since February 2022 and since 2023 was operated through the integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s expertise and experience delivering outstanding operational performance.
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