SBM Offshore awarded by ExxonMobil with FPSO contract in Guyana shelf

SBM Offshore contractSBM Offshore was awarded by ExxonMobil with FPSO contract for the Liza development in the Stabroek block in Guyana shelf. According to the contract, SBM Offshore will perform front-end engineering, design and operation of the FPSO, which will be used for production of oil from the field. The agreement is subject to a final investment decision on the project in 2017. ExxonMobil submitted an application for a production license and its initial development plan for the Liza field in early December. The development plan, submitted to the Guyana Ministry of Natural Resources, includes development drilling, operation of the FPSO, and subsea, umbilical, riser and flowline systems.

“We are proud that ExxonMobil has awarded SBM Offshore contracts for the Liza FPSO, starting with the front-end engineering, which forms an important part of a significant offshore development project”, said the CEO of SBM Offshore, Bruno Chabas. “Our dedicated team is looking forward to cooperating closely with the ExxonMobil team to make this project a success. This award underlines the fact that experience matters across the entire FPSO life cycle”, added he.

The Liza prospect is located approximately 120 nautical miles offshore Guyana in the Stabroek block, which is operated by ExxonMobil affiliate, Esso Exploration and Production Guyana. The Liza field has a potential recoverable resource estimate in excess of 1 billion oil-equivalent barrels. The Stabroek block currently comprises 6.6 million acres (26,800 sq km). Esso Exploration and Production Guyana Limited is the operator and holds a 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30% interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25% interest.