[Guyana] Liza-4 (Yellowtail) - One Guyana FPSO

Post Reply
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

[Guyana] Liza-4 (Yellowtail) - One Guyana FPSO

Unread post by escveritas »

SBM Offshore is pleased to announce it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) to begin FEED activities and secure a Fast4Ward® hull.

Following FEED and subject to government approvals in Guyana of the development plan, project sanction including final investment decision by ExxonMobil, and EEPGL’s release of the second phase of work, SBM Offshore will construct, install and then lease the FPSO and operate it for a period of up to 2 years. First oil is expected in 2025.

SBM Offshore will design and construct the FPSO using its industry leading Fast4Ward® program allocating the Company’s sixth new build, Multi-Purpose 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 450 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 1,800 meters and will be able to store around 2 million barrels of crude oil.

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

In order to strengthen its execution model given the current challenging market environment, SBM Offshore established a special purpose company (SPC) with McDermott for the execution of the turnkey phase of the project. This SPC will benefit from the combined engineering and fabrication capacity as well as the experience of both companies in delivering EPC solutions to the energy industry. SBM Offshore will hold 70% and McDermott will hold 30% equity ownership in this SPC. The FPSO will be fully owned by SBM Offshore.

Bruno Chabas, SBM Offshore’s Chief Executive Officer:

“SBM Offshore is proud to announce ExxonMobil has awarded the contracts for the fourth FPSO to be deployed in Guyana. When finished, the FPSO will be the largest producing unit ever built by the Company. This project again demonstrates the value that our industry leading Fast4Ward® program continues to bring to our clients and other stakeholders. We are also pleased to announce our partnership with McDermott and look forward to working together through the execution phase and deliver this world class project.”


Samik Mukherjee, McDermott’s Executive Vice President and Chief Operating Officer:


“Our people and resources bring the proven project execution, integrated engineering and modularization capabilities essential for delivery assurance and success. We will align these strengths with those of SBM Offshore to drive a cohesive, efficient execution strategy together.”
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [Guyana] Liza-4 FPSO

Unread post by escveritas »

TechnipFMC Awarded Large Subsea Contract for Additional Stabroek Block project

NEWCASTLE & HOUSTON, November 15, 2021 — TechnipFMC has been awarded a large contract worth in between USD 0.5 to 1 Billion by Exxon Mobil Corporation affiliate, Esso Exploration and Production Guyana Limited, to supply the subsea production system for the Yellowtail development.

Subject to government approvals and final project sanction, TechnipFMC will provide project management, engineering, manufacturing and testing capabilities to deliver the overall subsea production system. The scope of the project includes 51 enhanced vertical deepwater trees (EVDT) and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are very excited to continue our relationship with ExxonMobil through this award, which is our fourth within the Stabroek block. We are proud of our dedicated Guyanese employees and are committed to the continued development and expansion of local capabilities.”
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

[Guyana] Yellowtail - Liza 4

Unread post by escveritas »

SBM Offshore awarded contracts for ExxonMobil FPSO ONE GUYANA

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 Yellowtail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and operate the ONE GUYANA 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, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers.

The Yellowtail development is the fourth 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, a wholly-owned subsidiary of CNOOC Limited, holds a 25 percent interest.

The FPSO ONE GUYANA’s design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s 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 450 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 1,800 meters and will be able to store around 2 million barrels of crude oil.

SBM Offshore is committed to work with Guyanese companies for work to be performed in Guyana and is preparing to further recruit and employ Guyanese engineers into the ONE GUYANA project team.

The turnkey phase of the project is executed by a special purpose company (SPC) established by SBM Offshore and McDermott. SBM Offshore holds 70% and McDermott holds 30% equity ownership in this SPC. The FPSO will be fully owned by SBM Offshore.
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [Guyana] Yellowtail - Liza 4

Unread post by escveritas »

06 May 2022
Keppel O&M awarded FPSO integration contracts worth around S$250 million from repeat customers

Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard), has been awarded contracts worth around S$250 million[1] from repeat customers for the integration of two Floating Production Storage and Offloading vessels (FPSO).

Mr Chor How Jat, Managing Director (Conversions & Repairs), Keppel O&M, said, “Despite a volatile market, we are pleased to be awarded contracts from our longstanding customers as it is a testament to the partnerships that we have built up over decades of collaboration. We are seeing signs of fundamental improvement in the market, and are well-positioned to team up with customers to provide innovative, reliable, quality, and value-added solutions.”

The first contract is between Keppel Shipyard and BW Offshore, a fully-owned subsidiary of the BW Group, to undertake the integration work on a newbuild FPSO. This follows the Letter of Award that Keppel Shipyard received from BW Offshore, as announced by Keppel on 25th November 2021[2].

Keppel Shipyard will be responsible for the installation and integration works of about 43,000 tons of topside modules, deck equipment and the turret mooring system, as well as completion and commissioning support for BW Offshore. The hull of the FPSO is expected to arrive in Singapore in mid-2023, with delivery scheduled for 2H 2024.

Keppel Shipyard has also signed contracts with Single Buoy Moorings, Inc. (SBM), as well as a joint-venture company between SBM and McDermott to undertake the fabrication, installation, and integration of topside modules for an FPSO project. The yard will also support SBM with pre-commissioning and commissioning work. Work is expected to commence in 2H 2022 ahead of the FPSO hull’s arrival in the yard in 1H 2023, with delivery scheduled for 2H 2024.

The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

[1] The combined contract value includes the value of the FPSO integration work which was previously disclosed in an announcement on 25 November 2021.

[2] https://www.kepcorp.com/en/media/media- ... 0-million/
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [Guyana] Liza-4 (Yellowtail) - ONE GUYANA FPSO

Unread post by escveritas »

SBM Offshore completes US$1.75 billion financing of ONE GUYANA

July 21, 2022

SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion.

The project financing was secured by a consortium of 15 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 is in line with the duration of the charter hence a two-year tenor post-completion and carries a variable interest rate based on SOFR plus 2.2% margin.

The FPSO ONE GUYANA builds on the experience to date of FPSOs Liza Destiny, Liza Unity and Prosperity. 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 approximately 250,000 barrels of oil per day, will have associated gas treatment capacity of 450 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 1,800 meters and will be able to store around 2 million barrels of crude oil.

The project is part of the Yellowtail development which is the fourth 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, a wholly-owned subsidiary of CNOOC Limited, holds a 25 percent interest.
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [Guyana] Liza-4 (Yellowtail) - One Guyana FPSO

Unread post by escveritas »

McDermott and SBM Offshore to Deliver Fourth FPSO in Guyana

HOUSTON, Nov. 18, 2021 /PRNewswire/ -- McDermott International and SBM Offshore have established a special purpose company to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading (FPSO) vessel under contracts for the Yellowtail development project.

Through the special purpose company, McDermott and SBM Offshore will design and construct the FPSO project, which will follow the FEED and is subject to government approvals in Guyana of the development plan, project sanction including final investment decision by ExxonMobil and Esso Exploration and Production Guyana Limited's (EEPGL) release of the second phase of work.

The FPSO will be the fourth to be deployed in Guyana and will be designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 450 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 5,900 feet (1,800 meters) and will be able to store around two million barrels of crude oil.

"McDermott brings unrivaled project execution, integrated engineering and modularization and industry leadership to this important project," said Samik Mukherjee, McDermott Executive Vice President and Chief Operating Officer.

"We will leverage our worldwide engineering centers and access the modularization design and fabrication expertise of our Qingdao McDermott Wuchuan (QMW) fabrication yard in China. This—and our shared vision with SBM Offshore for integrated solutions, optimized efficiency and delivery assurance—will enable success," said Tareq Kawash, McDermott Senior Vice President, Europe, Middle East, Africa.

McDermott and SBM Offshore will provide project management, basic design, procurement, engineering, integration and commissioning services. SBM Offshore will manage the transport and installation and then lease the FPSO and operate it for a period of up to two years.
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [Guyana] Liza-4 (Yellowtail) - One Guyana FPSO

Unread post 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.”
Post Reply

Return to “SBM Offshore”

Who is online

Users browsing this forum: No registered users and 3 guests