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[Guyana] Liza-3 FPSO (Prosperity)

Posted: Sat Aug 29, 2020 1:54 pm
by escveritas
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.”

Re: [Guyana] Liza-3 FPSO Liza Prosperity

Posted: Thu Oct 08, 2020 1:07 am
by escveritas
SBM Offshore awarded contracts for ExxonMobil FPSO Prosperity

October 1, 2020
SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, 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 Payara development is the third development within the Stabroek block, circa 200 kilometers offshore Guyana. EEPGL is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited holds a 25 percent interest.

The Prosperity FPSO 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.

As a result of the award from EEPGL, 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.”

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Tue Jun 29, 2021 7:58 am
by escveritas
SBM Offshore completes US$1.05 billion financing of Prosperity

June 25, 2021

SBM Offshore is pleased to announce it has completed the project financing of FPSO Prosperity for a total of US$1.05 billion.

The project financing was secured by a consortium of 11 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan has a tenor of two years post completion, in line with the duration of the charter, and carries a variable interest rate plus 1.60%.

The Prosperity FPSO 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.

The project is part of the Payara development which is the third development within the Stabroek block, circa 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited, an affiliate of Exxon Mobil Corporation, is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited holds a 25 percent interest.

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Sat Aug 14, 2021 10:42 am
by escveritas
Prosperity FPSO hull arrives in Singapore for next phase of construction

The hull for the Prosperity FPSO has arrived safely at the Keppel yard in Singapore. Now, the next phase of construction will commence, with the topside modules being integrated at the yard.

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Despite the various challenges posed by the ongoing global pandemic, the unit remains on schedule to be completed in 2024. Drydock activities are scheduled to begin in the 4th quarter of this year, with the installation of major structures that will support the Mooring and Subsea Risers.

In keeping the standardization philosophy that guides the Fast4Ward® program, the Prosperity FPSO by in large replicates the design used for the Liza Unity FPSO. This approach has showcased the value of Fast4Ward®, ensuring that the final product is delivered faster to our client ExxonMobil. Once installed, the vessel is intended to produce roughly 220,000 barrels of oil per day and will be able to store around 2 million barrels of crude oil.

Once completed, Prosperity will join her sister vessel Liza Unity, currently under construction at the same yard, and Liza Destiny, operational since end of 2019, offshore Guyana.

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Thu Sep 02, 2021 2:15 am
by escveritas
Remazel Engineering to supply the complete Mooring Tensioning System and Riser pull-in package – one of the world’s biggest Riser pull-in in terms of capacity to SBM Offshore for its Fast4Ward® PROSPERITY FPSO project, which will be deployed offshore Guyana.

The Prosperity FPSO design is based on SBM Offshore’s industry leading Fast4Ward® program, a cutting-edge approach to topside modules standardization. Together with the Mooring System package supplied for the Liza Unity FPSO in 2019, this is one of the most relevant projects that Remazel Engineering delivered to SBM Offshore within the framework of its standardized modules.

Go Faster and Go digital! These are the keywords of this new chapter of offshore Oil&Gas era

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Tue Sep 07, 2021 11:21 am
by escveritas
SBM Offshore completes US$1.05 billion financing of Prosperity

June 25, 2021

SBM Offshore is pleased to announce it has completed the project financing of FPSO Prosperity for a total of US$1.05 billion.

The project financing was secured by a consortium of 11 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan has a tenor of two years post completion, in line with the duration of the charter, and carries a variable interest rate plus 1.60%.

The Prosperity FPSO 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.

The project is part of the Payara development which is the third development within the Stabroek block, circa 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited, an affiliate of Exxon Mobil Corporation, is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited holds a 25 percent interest.

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Fri Oct 29, 2021 1:36 am
by escveritas
Image

Prosperity FPSO enters drydock in Singapore

13 Oct 2021


Prosperity FPSO project passing another major milestone: the vessel successfully entered drydock at the yard in Singapore. The project team will continue construction with next steps being installation of Mooring Structures and Riser Support. The FPSO is being constructed for ExxonMobil, and will join two other SBM-constructed FPSOs, Liza Destiny and Liza Unity, in Guyanese waters.

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Mon May 09, 2022 9:43 am
by escveritas


SBM Offshore has issued press release showing the first series of the Topsides Module lifting for the Prosperity FPSO at Keppel Shipyard in Singapore. Prosperity FPSO is destined to join two other SBM Offshore-built FPSOs, Liza Destiny and Liza Unity, in Guyanese waters.

Singapore based Dyna-Mac has previously fabricated 13 topside modules weighing a total of 23,000 Tonnes for Liza Unity FPSO delivered in 2021.

📸 SBM Offshore

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Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Thu Feb 16, 2023 9:46 am
by escveritas
Keppel O&M to deliver Guyana's third FPSO
The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.

1 Feb 2023

Keppel Offshore & Marine’s (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a mega Floating Production Storage and Offloading vessel (FPSO) to SBM Offshore in 1Q 2023. This is the third FPSO that Keppel Shipyard is delivering to SBM Offshore and will be chartered to the consortium of ExxonMobil, CNOOC, and Hess to operate in offshore Guyana.

The vessel was named Prosperity FPSO by Guest of Honour, Her Excellency Mrs Arya Ali, the First Lady of the Co-operative Republic of Guyana at a ceremony held today at Keppel Shipyard.

Mr Chris Ong, CEO of Keppel O&M, said, “We are pleased to support SBM Offshore and ExxonMobil in contributing to Guyana’s oil and gas industry with a third FPSO for deployment in the Stabroek block. FPSO Prosperity reinforces Keppel O&M’s standing as the world leader in the integration of FPSOs and extends our track record of more than 130 FPSO projects. It also marks our 27th major project for SBM Offshore, building on the strong partnership that we have forged over decades of collaboration.”

Keppel O&M’s scope of work on FPSO Prosperity includes the fabrication of several topside modules, riser, mooring and umbilical structures, followed by the installation and integration of these structures and all topside modules onto the FPSO.

The FPSO, which will be spread moored in water depth of about 1,900 metres, is designed to produce 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.

Re: [Guyana] Liza-3 FPSO (Liza Prosperity)

Posted: Sat Feb 18, 2023 4:05 am
by escveritas

Re: [Guyana] Liza-3 FPSO (Prosperity)

Posted: Tue Apr 11, 2023 2:57 pm
by escveritas
FPSO Prosperity arrives at the Stabroek Block offshore Guyana

11 Apr 2023



SBM Offshore announces the arrival of FPSO Prosperity at the Stabroek Block offshore Guyana.

The vessel travelled just over 11,000 nautical miles – or just over 20,000 kilometers - from Singapore in just under 50 days.
On track for first oil later this year, Prosperity becomes Guyana’s third FPSO joiningLiza Destiny and Liza Unity.

Re: [Guyana] Liza-3 FPSO (Prosperity)

Posted: Tue May 02, 2023 2:33 pm
by escveritas
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.”

Re: [Guyana] Liza-3 FPSO (Prosperity)

Posted: Wed Nov 15, 2023 12:44 am
by escveritas
ExxonMobil starts production at third offshore Guyana project

Image

SPRING, Texas – ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day.
  • Company’s third FPSO, Prosperity, starts up ahead of schedule and will add 220,000 barrels of oil per day
  • Nearly 6,000 Guyanese support ExxonMobil activities
The Prosperity floating, production, storage and offloading (FPSO) vessel is expected to reach initial production of approximately 220,000 barrels per day over the first half of next year as new wells come online. This additional capacity will be the third major milestone towards reaching a combined production capacity of more than 1.2 million barrels per day on the Stabroek Block by year-end 2027.

“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand,” said Liam Mallon, president of ExxonMobil Upstream Company. “We’re pleased to work in partnership with the Guyanese government to make reliable energy accessible and sustainable.”

ExxonMobil Guyana anticipates six FPSOs will be in operation on the Stabroek Block by year-end 2027. Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each produce approximately 250,000 barrels of oil per day. The company is working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.

Prosperity joins the Liza Unity as two of the world’s first FPSOs to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation and operational procedures. ExxonMobil’s Guyana developments are generating around 30% lower greenhouse gas intensity than the average of ExxonMobil’s upstream portfolio. According to the independent research firm Rystad Energy, they are also among the best performing in the world with respect to emissions intensity, outpacing 75% of global oil and gas producing assets.

Some 6,000 Guyanese are now supporting ExxonMobil Guyana’s activities in the country, representing more than two-thirds of the local oil and gas workforce. The company and its direct contractors have spent more than $1.2 billion with more than 1,500 Guyanese suppliers since operations began in 2015. Production started in December 2019.

ExxonMobil Guyana Limited operates the Stabroek Block and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.