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SBM Offshore awarded contracts

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Tanks and Terminals,

SBM Offshore has announced that ExxonMobil confirmed the award of contracts for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install, lease and operate a floating production, storage and offloading vessel (FPSO). This follows completion of front-end engineering studies and the final investment decision on the project by ExxonMobil.

The Liza field is located in the Stabroek block, which covers almost 27 000 square km, circa 200 km offshore Guyana. 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.

The FPSO is designed to produce up to 120 000 bpd of oil, will have associated gas treatment capacity of circa 170 million ft3/d and water injection capacity of circa 200 000 bpd. The converted VLCC FPSO will be spread moored in water depth of 1525 m and will be able to store 1.6 million bbls of crude oil.

SBM Offshore CEO Bruno Chabas commented, "We are proud that ExxonMobil awarded SBM Offshore the contracts for the Liza FPSO. The Liza Field offshore Guyana is one of the industry's largest oil discoveries of the past decade. We look forward to cooperating closely with our client and partners to make this project a success. This award underlines SBM Offshore's continued focus on building on our experience, our long term relationships and FPSO-led strategic vision."

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