SBM Offshore
Dutch floater specialist SBM Offshore has been awarded contracts to deliver front-end engineering and design (FEED) for floating production storage and offloading (FPSO) for the Yellowtail development project offshore Guyana.
Following the FEED and subject to, amongst other things, project sanction including final investment decision by ExxonMobil, SBM Offshore will build, install and then lease the FPSO and operate it for a period of up to 2 years. This will be the company’s fourth FPSO in Guyana, in addition to the Liza Destiny, Liza Unity (pictured) and Prosperity FPSOs. First oil is expected in 2025.
SBM Offshore will design and construct the FPSO using its Fast4Ward program, allocating the company’s sixth newbuild, multipurpose hull combined with several standardized topsides modules. The FPSO will be designed to produce 250,000 bopd, will have an associated gas treatment capacity of 450 m cu feet per day and a water injection capacity of 300,000 bpd. The FPSO will be spread moored at a water depth of about 1,800 m and will be able to store around 2m barrels of crude oil.
In addition, SBM Offshore has established a special purpose company (SPC) with McDermott for the execution of the turnkey phase of the project. This SPC will benefit from the combined engineering and fabrication capacity as well as the experience of both companies in delivering EPC solutions to the energy industry. SBM Offshore will hold 70% and McDermott will hold 30% equity ownership in this SPC. The FPSO will be fully owned by SBM Offshore and will be the largest producing unit ever built by the company.
