ExxonMobil confirms contract with SBM Offshore for FPSO Jaguar in Stabroek Block

SBM Offshore has officially announced the contract award by ExxonMobil Guyana Limited (EMGL) for the construction and installation of the Floating Production Storage and Offloading (FPSO) unit, named FPSO Jaguar, for the Whiptail development project. This strategic move follows the successful completion of front-end engineering and design studies, necessary governmental approvals, and a final investment decision by ExxonMobil and its co-venturers in the Stabroek Block. The project is situated approximately 200 kilometers offshore Guyana.

FPSO Jaguar Specifications and Design

The FPSO Jaguar is designed under SBM Offshore‘s Fast4Ward program, which leverages a new build, multi-purpose floater hull coupled with several standardized topside modules. This FPSO is engineered to produce up to 250,000 barrels of oil per day, treat 540 million cubic feet of associated gas per day, and manage water injection capacity of 300,000 barrels per day. It will be spread moored at a water depth of about 1,630 meters and boasts a crude oil storage capacity of approximately 2 million barrels.

Ownership and Operation Plans

SBM Offshore will retain ownership of the FPSO Jaguar until its installation in Guyanese waters, after which ownership will transfer to EMGL. Post-installation, SBM Offshore is expected to operate the FPSO for a decade under the Operations and Maintenance Enabling Agreement signed in 2023.

Stakeholder and Co-Venturer Information

EMGL operates the Stabroek Block with a 45 percent interest. Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited hold 30 percent and 25 percent stakes, respectively. This project marks the sixth development within the prolific Stabroek block.

Commitment to Local Engagement and Sustainability

SBM Offshore remains dedicated to fostering local partnerships and expanding its activities within Guyana. The company plans to increase the recruitment and employment of Guyanese engineers for the FPSO Jaguar project. SBM Offshore is committed to supporting a responsible energy transition by reducing emissions from fossil fuel production and developing alternative, cleaner energy solutions.

The initiation of the FPSO Jaguar under SBM Offshore’s Fast4Ward program represents a significant technological and operational advancement in the offshore oil sector. This project not only demonstrates SBM Offshore’s capabilities in large-scale offshore developments but also aligns with broader industry trends focusing on efficiency and sustainability. The strategic partnership with local entities and commitment to the professional growth of Guyanese engineers reflect SBM Offshore’s dedication to corporate responsibility and sustainable business practices.