[Guyana] Whiptail - Jaguar FPSO

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escveritas
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[Guyana] Whiptail - Jaguar FPSO

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13 Oct 2023

SBM Offshore has announced that it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Whiptail development project in Guyana.

Following FEED and subject to government approvals in Guyana of the development plan, project sanction including final investment decision by ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, to release the second phase of work, SBM Offshore will construct and install the FPSO. The FEED contract award triggers the initial release of funds by ExxonMobil Guyana Limited to begin FEED activities, and commits a Fast4Ward® hull for the execution of the Whiptail development project in Guyana.

Under the contracts, the FPSO’s ownership is expected to be transferred to the client at the end of the construction period and before start of operations in Guyana. The construction costs are expected to be partially funded by senior loans which will be repaid at the time of the FPSO’s transfer to the client.

SBM Offshore is expected to operate the FPSO through its integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s expertise and experience, leveraging key learnings and the operational excellence of the units currently deployed in Guyana.

SBM Offshore will design and construct the FPSO using its industry-leading Fast4Ward® program using the Company’s seventh new build, Multi-Purpose Floater hull, combined with several standardized topsides modules. The FPSO will be designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 540 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,630 meters and will be able to store around 2 million barrels of crude oil.

Building on the experience to date of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA, SBM Offshore continues to commit to local content development in Guyana by sourcing fabrication scope locally and integrating Guyanese engineers into the execution and operational teams.

Bruno Chabas, SBM Offshore’s Chief Executive Officer:

“We are proud to announce ExxonMobil Guyana has awarded the contracts for a fifth FPSO from SBM Offshore in Guyana. This project demonstrates once more the value that our industry-leading Fast4Ward® program brings to our clients and other stakeholders while delivering carbon efficient energy to the world.”
escveritas
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Re: [Guyana] Whiptail

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SBM Offshore Awarded Contracts for ExxonMobil Guyana’s FPSO Jaguar

SBM Offshore has announced that ExxonMobil Guyana Limited (“EMGL”) has confirmed the award of contracts for the Whiptail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct and install FPSO Jaguar. Ownership will transfer to EMGL prior to the FPSO’s installation in Guyana, and SBM Offshore expects to operate the FPSO for 10 years under the Operations and Maintenance Enabling Agreement signed in 2023. The award follows completion of front-end engineering and design studies, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers.

The Whiptail development is the sixth development within the Stabroek block, circa 200 kilometers offshore Guyana. EMGL 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 FPSO Jaguar’s design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s 7th new build, multi-purpose floater hull combined with several standardized topsides modules. The FPSO will be designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 540 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,630 meters and will be able to store around 2 million barrels of crude oil.
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Re: [Guyana] Whiptail (FPSO Jaguar)

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SBM Offshore announced that it has secured a US$250 million term loan facility.

The facility will be fully drawn in the coming days to finance Floating Production, Storage and Offloading vessel (FPSO) construction activities. The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is expected from first drawdown of the construction financing of FPSO Jaguar.
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Re: [Guyana] Whiptail (FPSO Jaguar)

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SINGAPORE, 16 May 2024 – Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO) vessel.

Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium said, "We are honoured to be able to support SBM Offshore and ExxonMobil Guyana in contributing to the oil and gas industry in Guyana with yet another FPSO for deployment in the Stabroek block.

FPSO Jaguar reinforces Seatrium’s standing as the world leader in the conversion and integration of FPSOs, marking our 29th major project for SBM Offshore, a strong affirmation of our client’s confidence in Seatrium as a partner of choice in floating production systems.” Seatrium’s scope of work includes the fabrication of several topsides modules, riser, mooring and umbilical structures, followed by the installation and integration of these structures and all topside modules for the FPSO Jaguar.

The Group will also support SBM Offshore with pre-commissioning and commissioning work. The FPSO Jaguar is designed to produce 250,000 barrels of oil per day (bopd) and an associated gas treatment capacity of 540 million cubic feet per day (mmscfd), water injection capacity of 300,000 barrels of water per day (bwpd), and a storage capacity of two million barrels of oil.

Work is expected to commence in the third quarter of this year; upon completion, the FPSO will be deployed to serve in the Whiptail Field, Offshore Stabroek Block, Guyana for ExxonMobil Guyana. To date, Seatrium has been involved in delivering three FPSO projects, namely FPSO Liza Destiny, FPSO Liza Unity and FPSO Prosperity, as part of the series of FPSOs bound for the Stabroek block in offshore Guyana. Seatrium is also on track to deliver its fourth Guyanese FPSO project, ONE GUYANA FPSO to SBM. In recent years, Guyana has emerged as the world’s fastest-growing oil region since its first offshore discovery back in 2015.
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Re: [Guyana] Whiptail (FPSO Jaguar)

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Seatrium Awarded Repeat FPSO Integration Contract from SBM Offshore

SINGAPORE, 16 May 2024 – Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO)
vessel.

Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium said, "We are honoured to be able to support SBM Offshore and ExxonMobil Guyana in contributing to the oil and gas industry in Guyana with yet another FPSO for deployment in the Stabroek block. FPSO Jaguar reinforces Seatrium’s standing as the world leader in the conversion and integration of FPSOs, marking our 29th major project for SBM Offshore, a strong affirmation of our client’s confidence in Seatrium as a partner of choice in floating production systems.”

Seatrium’s scope of work includes the fabrication of several topsides modules, riser, mooring and umbilical structures, followed by the installation and integration of these structures and all topside modules for the FPSO Jaguar. The Group will also support SBM Offshore with pre-commissioning and commissioning work.

The FPSO Jaguar is designed to produce 250,000 barrels of oil per day (bopd) and an associated gas treatment capacity of 540 million cubic feet per day (mmscfd), water injection capacity of 300,000 barrels of water per day (bwpd), and a storage capacity of two million barrels of oil.

Work is expected to commence in the third quarter of this year; upon completion, the FPSO will be deployed to serve in the Whiptail Field, Offshore Stabroek Block, Guyana for ExxonMobil Guyana.

To date, Seatrium has been involved in delivering three FPSO projects, namely FPSO Liza Destiny, FPSO Liza Unity and FPSO Prosperity, as part of the series of FPSOs bound for the Stabroek block in offshore Guyana. Seatrium is also on track to deliver its fourth Guyanese FPSO project, ONE GUYANA FPSO to SBM. In recent years, Guyana has emerged as the world’s fastest-growing oil region since its first offshore discovery back in 2015.
escveritas
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Re: [Guyana] Whiptail - Jaguar FPSO

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SBM Offshore completed $1.5 Billion project financing for ExxonMobil’s Jaguar FPSO

SBM Offshore announced that the company has completed the project financing of FPSO Jaguar for a total of US$1.5 billion.

Image

The hull for the Jaguar FPSO was delivered earlier to SBM Offshore on November 11th , 2024, and is the fifth generic Fast4Ward® Multi Purpose Floater No.5 (MPF5) built by Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS), as subsidiary of China State Shipbuilding Corporation Limited (CSSC) for SBM Offshore

The project financing was fully secured by a consortium of 16 international financial institutions. The Company expects to draw the loan phased over the construction period of the FPSO. The project loan is in line with the duration of the construction phase.

The FPSO Jaguar’s design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s seventh new build, multi-purpose floater hull combined with several standardized topsides modules. The FPSO is designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 540 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,630 meters and will be able to store around 2 million barrels of crude oil.

The project is part of the Whiptail development, which is the sixth development within the Stabroek block, circa 200 kilometers offshore Guyana. ExxonMobil Guyana Ltd, an affiliate of ExxonMobil 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.
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