trending Market Intelligence /marketintelligence/en/news-insights/trending/le0o-b8cfjaxzgglmm4jdq2 content esgSubNav
In This List

SBM Offshore tapped for 2nd FPSO vessel at Liza development in Guyana

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Expand Your Perspective Uncover Insights on Key Markets with Differentiated Data

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Insight Weekly: Cryptocurrency's growth; green bond market outlook; coal investors' windfall


SBM Offshore tapped for 2nd FPSO vessel at Liza development in Guyana

Esso Exploration and Production Guyana Ltd., a unit of Exxon Mobil Corp., awarded SBM Offshore NV contracts for front-end engineering and design for a second floating production, storage and offloading vessel for the Liza development in the Stabroek block in Guyana.

Following the front-end engineering and design, and subject to requisite government approvals, project sanction and an authorization to proceed with the next phase, SBM will construct, install and then lease and operate the vessel for a period of up to two years, after which the vessel ownership and operation will transfer to Esso Exploration and Production Guyana.

The second Liza floating, production and offloading vessel design is based on SBM's Fast4Ward program that incorporates its new build, multi-purpose hull, combined with several standardized topsides modules. The vessel will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 Mcf/d of natural gas and water injection capacity of 250,000 bbl/d. The vessel 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.

The vessel Liza Destiny, which is the Liza 1, is progressing according to plan and currently under conversion in Singapore. Discussions with the client are underway regarding a potential accelerated transfer of ownership using the purchase option in the 10-year lease contract. The outcomes of these discussions are expected to lead to a transfer of the vessel ownership and operation after a period of up to two years.

Esso Exploration and Production Guyana Ltd. operates the Stabroek block with partners Hess Guyana Exploration Ltd and CNOOC Nexen Petroleum Guyana Ltd.