— to provide potential future FPSO

SBM OFFSHORE, the company which facilitated Guyana’s first Floating Production, Storage and Offloading vessel (FPSO)-the Liza Destiny, has entered into a long-term agreement with ExxonMobil to provide potential future FPSO orders.

On Friday, the company announced the new partnership with the US oil giant which it has shared good relations with for over four decades.

In a release, SBM stated that the agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work of potential future contracts.

This includes Build-Operate-Transfer (BOT) projects which generally cover a short lease term. Commenting on the partnership, Chief Executive Officer (CEO) of SBM, Bruno Chabas, stated, “We are very pleased with the long-term FPSO supply agreement with ExxonMobil. This agreement is a continuation of our long history of successful team work between our companies, further strengthening our long term cooperation.”

Meanwhile, Managing Director of Floating Production Solutions at SBM, Séverine Baudic added: “This agreement aims at extending our constructive business relationship with ExxonMobil that has been created through delivering a series of major offshore projects together. We look forward to continue working together in the future and expanding our track-record of reliable execution on deep-water projects.”

Just over a week ago, the Liza Destiny FPSO arrived in Guyana in the Stabroek Block signalling clear progressions towards planned production come early 2020.
The vessel was constructed by SBM in Singapore and is designed to produce up to 120,000 barrels of oil per day.

In addition, SBM was previously awarded contracts to construct, install, lease and operate the Liza Unity FPSO. This vessel will be designed to produce 220,000 barrels of oil per day with a storage capacity of 2 million barrels compared to the Liza Destiny’s 1.6 million storage capacity.

Under the Liza Unity contracts, SBM Offshore will lease and operate the FPSO for up to two years. SBM has supplied more than 10 floating systems to ExxonMobil in five countries including five FPSOs, deep-water offloading systems and an FSO.