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.
Construct, install, and operate
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 the 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.
Yellowtail development
The Yellowtail development is the fourth development within the Stabroek block, circa 200 kilometres offshore of 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.
Multi-purpose floater hull
FPSO will be spread-moored in a water depth of about 1,800 metres and will store around 2 million barrels of crude oil
The FPSO ONE GUYANA’s design is based on SBM Offshore’s industry pioneering Fast4Ward® program that incorporates the Company’s new build, a multi-purpose floater hull combined with several standardised topside modules.
The FPSO will be designed to produce 250,000 barrels of oil per day, will have an associated gas treatment capacity of 450 million cubic feet per day, and a water injection capacity of 300,000 barrels per day. The FPSO will be spread-moored in a water depth of about 1,800 metres and will be able to store around 2 million barrels of crude oil.
Turnkey phase
SBM Offshore is committed to working 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.
