Exxon Mobil Corp. has assumed possession of floating manufacturing, storage and offloading (FPSO) vessel Liza Future, mentioned ex-owner SBM Offshore NV, which is able to proceed to function Liza Future for the USA oil big’s operations in Guyana.
Liza Future is considered one of 5 FPSOs that ExxonMobil contracted from the Dutch ocean engineering and building firm for deployment in Guyana, the place ExxonMobil holds a forty five p.c working stake within the Stabroek block. 4 FPSOs had been recontracted final yr: Liza Future, One Guyana, Prosperity and Unity. One was contracted this yr, known as Jaguar.
Underneath final yr’s Operations and Upkeep Enabling Settlement, which permits SBM Offshore to function the vessels as much as 2033, ExxonMobil is to amass the 4 vessels after the lapse of their lease contracts however has the choice to buy earlier. To this point ExxonMobil has acquired three of the 4: Unity in 2023, Prosperity earlier in 2024 and now Liza Future.
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Liza Future’s lease expires December 2029. “The acquisition permits ExxonMobil Guyana to imagine possession of the unit whereas SBM Offshore will proceed to function and preserve the FPSO as much as 2033”, SBM Offshore mentioned in an announcement.
The Liza Future buy had a money consideration of $535 million. “The web money proceeds will primarily be used for the complete reimbursement of the US$405 million mission financing and as such will lower SBM Offshore’s internet debt place”, mentioned the assertion on the corporate’s web site.
For One Guyana, which has but to be deployed, SBM Offshore mentioned in its third-quarter report printed November 14, “The mixing and onshore commissioning actions are progressing consistent with plan, together with the profitable completion of the ability plant commissioning”.
“First oil is anticipated within the second half of 2025”, it added.
Earlier in 2024 ExxonMobil tapped SBM Offshore to construct FPSO Jaguar. “Possession will switch to EMGL [ExxonMobil Guyana Ltd.] previous to the FPSO’s set up in Guyana, and SBM Offshore expects to function the FPSO for 10 years underneath the Operations and Upkeep Enabling Settlement signed in 2023”, SBM Offshore mentioned in a press launch April 12, 2024.
Jaguar will serve the sixth growth in Stabroek. The Stabroek companions anticipate the event, known as Whiptail, to boost Guyana’s oil manufacturing to 1.3 million barrels a day. The house owners goal to place the $12.7 billion Whiptail mission onstream 2027, in keeping with ExxonMobil’s announcement of the ultimate funding determination April 12, 2024.
To contact the writer, electronic mail jov.onsat@rigzone.com
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