SBM Offshore has introduced that the FPSO One Guyana has arrived in drydock on the Keppel shipyard in Singapore.
In an announcement posted on social media, the corporate described the event as a “key milestone” within the mission. The corporate famous within the assertion that One Guyana is the newest FPSO beneath development by SBM Offshore and its companions for its shopper ExxonMobil Guyana.
“The mission crew will proceed development with subsequent steps being set up of the mooring buildings and riser balcony,” SMB Offshore stated in an announcement posted on its web site.
“The topsides development is progressing as per mission schedule. The FPSO is being constructed for our shopper ExxonMobil Guyana and can be a part of three different SBM Offshore-constructed FPSOs, Liza Future and Liza Unity, in Guyanese waters in addition to Prosperity presently in transit to Guyana,” SBM Offshore added within the assertion.
Again in October 2022, SBM Offshore introduced that development of the topsides modules had kicked off on the One Guyana FPSO mission.
“Throughout September this yr, two metal strike ceremonies had been held in each Keppel FELS and Dynamac yards,” SBM Offshore stated in an organization assertion on the time.
“This marks a key milestone, which is the beginning of the fabrication of the marine buildings and the topsides modules,” the corporate added.
Undertaking Financing
In July 2022, SBM Offshore introduced that it had accomplished the mission financing of the FPSO One Guyana for a complete of $1.75 billion.
The mission financing was secured by a consortium of 15 worldwide banks, SBM Offshore stated on the time, including that it expects to attract the mortgage in full, phased over the development interval of the FPSO.
“The financing will change into non-recourse as soon as the FPSO is accomplished and the pre-completion assure has been launched,” SBM Offshore acknowledged in July final yr.
“The mission mortgage is in step with the length of the constitution therefore a two-year tenor post-completion and carries a variable rate of interest based mostly on SOFR plus 2.2 p.c margin,” the corporate added.
In July, SBM Offshore famous that the One Guyana FPSO will probably be designed to provide roughly 250,000 barrels of oil per day, may have related gasoline therapy capability of 450 million cubic ft per day, and water injection capability of 300,000 barrels per day.
The FPSO will probably be unfold moored in water depth of about 1,800 meters and can be capable to retailer round two million barrels of crude oil, in accordance with the corporate’s July assertion, which outlined that the mission is a part of the Yellowtail improvement, which it stated is the fourth improvement throughout the Stabroek Block, round 200 kilometers offshore Guyana.
Again in April 2022, SBM Offshore introduced that Esso Exploration and Manufacturing Guyana Restricted (EEPGL), an affiliate of Exxon Mobil Company, had confirmed the award of contracts for the Yellowtail improvement mission positioned within the Stabroek Block in Guyana.
SBM Offshore stated on the time that, beneath these contracts, it is going to assemble, set up after which lease and function the One Guyana FPSO for a interval of as much as two years, after which the FPSO possession and operation will switch to EEPGL.
Yellowtail Undertaking
In April 2022, ExxonMobil introduced that it had made a remaining funding determination for the Yellowtail improvement offshore Guyana after receiving authorities and regulatory approvals.
The corporate highlighted in an announcement on the time that that is its fourth, and largest, mission within the Stabroek Block and stated it’s anticipated to provide roughly 250,000 barrels of oil per day beginning in 2025.
“Yellowtail’s improvement additional demonstrates the profitable partnership between ExxonMobil and Guyana, and helps present the world with one other dependable supply of power to satisfy future demand and guarantee a safe power transition,” Liam Mallon, the president of ExxonMobil Upstream Firm stated within the April assertion.
“We’re working to maximise advantages for the folks of Guyana and enhance international provides by means of protected and accountable improvement on an accelerated schedule,” he added within the assertion.
Yellowtail manufacturing from the One Guyana FPSO vessel will develop an estimated useful resource of greater than 900 million barrels of oil, ExxonMobil stated on the time, including that the $10 billion mission will embody six drill facilities and as much as 26 manufacturing and 25 injection wells.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
Photograph Credit score – iStock.com/eugenesergeev
