Company News

May 10, 2019

SBM confirms award of Liza 2 floater contract

SBM Offshore announced on May 10 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 Liza project in Guyana.

“We are proud that ExxonMobil awarded SBM Offshore the contracts for the Liza Unity FPSO. The Company is confident that this project will demonstrate the value that our Fast4WardTM program brings to our clients. We look forward to continuing the cooperation with our client ExxonMobil on this second important project in Guyana,” CEO Bruno Chabas, said.

Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for up to two years, the Liza Unity FPSO. This follows completion of front-end engineering studies, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers Hess and CNOOC.

SBM said the Liza Unity FPSO design is based on its industry leading Fast4WardTM program as it incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules.

The Liza Unity 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 1,600 meters and will be able to store around 2 million barrels of crude oil.

ExxonMobil announced on May 3 that it will be proceeding with its US$6 billion Liza Phase 2 Development project.

Pending government and regulatory approvals, a final investment decision is also expected later this year for a third phase of development, Payara, which is expected to produce between 180,000 and 220,000 barrels per day with startup as early as 2023.

The Liza field is located in the Stabroek block approximately 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.

Source: https://oilnow.gy/

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