SBM Offshore secures FEED contract for Whiptail FPSO project in Guyana

SBM Offshore announced its awarding of contracts for the Front End Engineering and Design (FEED) of a Floating Production, Storage, and Offloading vessel (FPSO) for the notable Whiptail development project in Guyana. Pending governmental nods and final investment decisions by ExxonMobil Guyana Limited, SBM Offshore will helm the construction and installation of the FPSO.

Project Specifics and Financing

After the FEED phase, ExxonMobil Guyana Limited, an ExxonMobil Corporation affiliate, is slated to kickstart the project’s second phase, thus releasing the funds for the FPSO’s FEED activities. SBM Offshore’s Fast4Ward hull will be pivotal in the Whiptail development project’s execution. Post-construction and pre-operations, the FPSO ownership will transition to the client. This significant construction endeavor will be partly bankrolled by senior loans, settled upon the FPSO’s handover to the client.

Operational Insight and FPSO Details

Combining the expertise of both SBM Offshore and ExxonMobil, the FPSO will be operated using an integrated model, building on lessons from units previously stationed in Guyana. SBM Offshore’s proprietary Fast4Ward program, merged with standardized topsides modules, will dictate the FPSO’s design and construction. Boasting a production capacity of 250,000 barrels of oil daily, the FPSO will also feature a gas treatment capacity of 540 million cubic feet per day and water injection of 300,000 barrels daily. The vessel, designed to store approximately 2 million barrels of crude oil, will be moored in waters roughly 1,630 meters deep.

SBM Offshore secures FEED contract for Whiptail FPSO project in Guyana. Photo courtesy of SBM Offshore.

Commitment to Local Development

Building on prior FPSO experiences like Liza Destiny and Prosperity, SBM Offshore reaffirms its commitment to Guyana’s local content development. This involves local fabrication sourcing and incorporating Guyanese engineers into both execution and operational facets.

Word from the Top Brass

Bruno Chabas, CEO of SBM Offshore, expressed pride in securing contracts for a fifth FPSO in Guyana from ExxonMobil Guyana. He emphasized the unparalleled value that the Fast4Ward program offers to clients, ensuring efficient carbon energy delivery globally.

Conclusion

This new venture signifies SBM Offshore’s continued prowess in the FPSO industry and its strong collaboration with ExxonMobil Guyana, furthering Guyana’s position in the global energy landscape.