SBM Offshore has been awarded contracts for the next phase of the Payara development project located in the Stabroek block in Guyana by Esso Exploration and Production Guyana (EEPGL), an affiliate of ExxonMobil.
Under these contracts, SBM Offshore will construct, install, and then lease and operate the floating production storage and offloading (FPSO) vessel Prosperity for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL.
The award follows completion of front-end engineering and design studies, completion of the multi-purpose hull, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers.
The Payara development is the third development within the Stabroek block, located some 200 kilometres offshore Guyana. EEPGL is the operator and holds a 45 per cent interest in the Stabroek block, Hess Guyana Exploration holds a 30 per cent interest, and CNOOC Petroleum Guyana holds a 25 per cent interest.
The FPSO will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 11 million cubic metres per day and water injection capacity of 250,000 barrels per day. It will be spread moored in water depths of about 1,900 metres and will be able to store around two million barrels of crude oil.