WATCH: Construction kickoff for SBM Offshore’s giant new FPSO

FPSO operator SBM Offshore has started the construction of topside modules for the ONE GUYANA FPSO, its largest so far. The vessel is being built for an ExxonMobil project in Guyana.

The construction of the topsides modules on SBM Offshore’s latest FPSO project, ONE GUYANA, kicked off in September this year.

SBM Offshore informed last Friday that two steel strike ceremonies were held in both Keppel FELS and Dyna-Mac yards. This marks a key milestone, the start of the fabrication of the marine structures and the topsides modules.

The vessel will be used to develop the Yellowtail project, which is the fourth development within the Stabroek block, circa 200 kilometres offshore Guyana. Esso Exploration and Production Guyana Limited, an affiliate of ExxonMobil, is the operator and holds a 45 per cent interest in the block, Hess holds a 30 per cent interest, and CNOOC Petroleum holds a 25 per cent interest.

ExxonMobil sanctioned the Yellowtail project in April 2022 and followed it up with a contract confirmation with SBM for the supply of the FPSO for the project.

In July 2022, SBM Offshore completed the project financing of FPSO ONE GUYANA for a total of $1.75 billion, secured by a consortium of 15 international banks.

The FPSO will be designed to produce approximately 250,000 barrels of oil per day, will have an associated gas treatment capacity of 450 million cubic feet per day and a water injection capacity of 300,000 barrels per day. The FPSO will be spread-moored in a water depth of about 1,800 meters and will be able to store around 2 million barrels of crude oil.

The project is expected to produce approximately 250,000 barrels of oil per day starting in 2025.