SBM Offshore announced that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the Company contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Payara development project located in the Stabroek block in Guyana. EEPGL is the operator of the Stabroek block with partners Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited.
The contract award will initiate a limited release of funds to begin FEED activities and secure a Fast4Ward® hull.
The Fast4Ward® hull is a standard design with the flexibility to be utilized for projects across the deep water market. Following FEED and subject to government approvals in Guyana, SBM Offshore will construct, install and then lease and operate the FPSO for a period of up to 2 years, after which the FPSO ownership and operation will transfer to EEPGL.
The FPSO, to be named Prosperity, will utilize a design based on SBM Offshore’s Fast4Ward® program that incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules. The FPSO will be designed to produce 220,000 barrels of oil per day.