Netherlands-based SBM Offshore Hits Construction Milestone for FPSO Unit in Guyana
Netherlands-based SBM Offshore, a leading provider of offshore floating facilities, has achieved a significant construction milestone for a floating production, storage, and offloading (FPSO) unit destined for a deepwater oil development project in Guyana.
ExxonMobil Guyana, a subsidiary of U.S. energy giant ExxonMobil, has awarded SBM Offshore the responsibility for the front end engineering and design (FEED) work for the FPSO Jaguar, which will be deployed at the Whiptail oil development project in the Stabroek block off the coast of Guyana.
The steel strike ceremony, held on November 12, 2024, marked the production of over 300 metric tons of fabricated fixtures for the FPSO Jaguar, which is expected to commence operations in 2027, approximately 200 kilometers offshore Guyana.
SBM Offshore disclosed that its fifth FPSO for Guyana is currently undergoing construction at Seatrium’s yard in Singapore, with topsides construction progressing on schedule. The company anticipates key milestones ahead, including the installation of mooring structures and riser balcony.
Key Features of FPSO Jaguar
The FPSO Jaguar is designed to produce approximately 250,000 barrels of oil per day, store up to 2 million barrels of crude oil, and be spread-moored at a water depth of about 1,630 meters. The vessel’s design is based on SBM Offshore’s Fast4Ward program, emphasizing standardized, efficient, and sustainable offshore production solutions.
The Whiptail project aims to develop the Whiptail, Pinktail, and Tilapia fields, with potential additional resources being considered based on feasibility and economic viability. The development concept involves drilling operations via drillships to extract oil from around 40 to 65 production and injection wells.
Project Partners and Future Prospects
ExxonMobil Guyana operates and holds a 45% interest in the Stabroek block, with Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%) as partners. Hess is currently in the process of merging with Chevron, potentially leading to Chevron becoming ExxonMobil’s new partner, pending the resolution of ongoing arbitration over preemptive rights in the Stabroek block joint operating agreement.
Aside from the FPSO project for ExxonMobil, SBM Offshore is also engaged in other projects, exemplified by a recent steel-cutting ceremony for an FPSO unit intended for TotalEnergies’ project offshore Suriname.