SBM Offshore Awarded Contracts for ExxonMobil's Second Liza FPSO Based on its Fast4WardTM Program
03 July 2018 - 3:01PM
July 3, 2018
SBM Offshore is pleased to announce that
ExxonMobil subsidiary Esso Exploration and Production Guyana
Limited (EEPGL) has awarded the Company contracts to perform Front
End Engineering and Design (FEED) for a second Floating Production,
Storage and Offloading vessel (FPSO) for the Liza development
located in the Stabroek block in Guyana. EEPGL is the operator of
the Stabroek block with partners Hess Guyana Exploration Ltd. and
CNOOC Nexen Petroleum Guyana Limited.
Following FEED and subject to requisite
government approvals, project sanction and an authorization to
proceed with the next phase, SBM Offshore will construct, install
and then lease and operate the FPSO for a period of up to 2 years,
after which the FPSO ownership and operation will transfer to
EEPGL.
The second Liza FPSO design is based on SBM
Offshore's industry leading Fast4WardTM program as it incorporates
the Company's new build, multi-purpose hull combined with several
standardized topsides modules. The FPSO will be designed to produce
220,000 barrels of oil per day, will have associated gas treatment
capacity of 400 million cubic feet per day and water injection
capacity of 250,000 barrels per day. The FPSO will be spread moored
in water depth of about 1,600 meters and will be able to store
around 2 million barrels of crude oil.
With respect to FPSO Liza Destiny (Liza 1),
progressing according to plan and currently under conversion in
Singapore, discussions with the client are underway regarding a
potential accelerated transfer of ownership using the purchase
option in the 10 year lease contract. The outcomes of these
discussions are expected to lead to a transfer of the FPSO
ownership and operation after a period of up to 2 years.
SBM is exploring options to maximize local
content and Guyanese workforce development in preparation for the
operating phase of both Liza FPSOs.
SBM Offshore CEO Bruno Chabas commented:
"We are pleased to report that ExxonMobil has
selected SBM Offshore to award contracts for the second Liza FPSO,
starting with the front-end engineering, for the development of the
second phase of the world-class deep water development in Guyana.
The successful team work with our client ExxonMobil on the FPSO
Liza Destiny project provided a solid foundation for this award.
This project will be adding further traction to SBM Offshore's
Fast4WardTM program as its design is incorporating our
multi-purpose hull and a number of standardized modules. We look
forward to continuing to build on our close collaboration with
ExxonMobil in order to also make this project a success."
Corporate Profile
SBM Offshore N.V. is a listed holding company
that is headquartered in Amsterdam. It holds direct and indirect
interests in other companies that collectively with SBM Offshore
N.V. form the SBM Offshore Group ("the Company").
SBM Offshore provides floating production
solutions to the offshore energy industry, over the full product
lifecycle. The Company is market leading in leased floating
production systems delivered to date, with multiple units currently
in operation and has unrivalled operational experience in this
field. The Company's main activities are the design, supply,
installation, operation and the life extension of floating
production solutions for the offshore energy industry.
As of December 31, 2017, Group companies employ
approximately 4,800 people worldwide. Full time company employees
totaling c. 4,300 are spread over offices in key markets,
operational shore bases and the offshore fleet of vessels. A
further 500 are working for the joint ventures with two
construction yards. For further information, please visit our
website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V.
directly and indirectly owns investments are separate entities. In
this communication "SBM Offshore" is sometimes used for convenience
where references are made to SBM Offshore N.V. and its subsidiaries
in general, or where no useful purpose is served by identifying the
particular company or companies.
The Management BoardAmsterdam, the Netherlands,
July 3, 2018
Financial Calendar |
Date |
Year |
Half-Year 2018 Earnings - Press Release |
August 9 |
2018 |
Trading Update 3Q 2018 - Press Release |
November 15 |
2018 |
Full-Year 2018 Earnings - Press Release |
February 14 |
2019 |
Annual General Meeting of Shareholders |
April 10 |
2019 |
Trading Update 1Q 2019 - Press Release |
May 16 |
2019 |
Half-Year 2019 Earnings - Press Release |
August 8 |
2019 |
Trading Update 3Q 2019 - Press Release |
November 14 |
2019 |
For further information, please contact:
Investor RelationsBert-Jaap
DijkstraDirector Corporate Finance and IR
Telephone: |
+31 (0)
20 236 3222 |
Mobile: |
+31 (0)
6 21 14 10 17 |
E-mail: |
bertjaap.dijkstra@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Media Relations Vincent KempkesGroup
Communications Director
Telephone: |
+31 (0)
20 2363 170 |
Mobile: |
+31 (0)
6 25 68 71 67 |
E-mail: |
vincent.kempkes@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Disclaimer
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation. Some of the statements contained in this release that
are not historical facts are statements of future expectations and
other forward-looking statements based on management's current
views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance, or
events to differ materially from those in such statements. Such
forward-looking statements are subject to various risks and
uncertainties, which may cause actual results and performance of
the Company's business to differ materially and adversely from the
forward-looking statements. Certain such forward-looking statements
can be identified by the use of forward-looking terminology such as
"believes", "may", "will", "should", "would be", "expects" or
"anticipates" or similar expressions, or the negative thereof, or
other variations thereof, or comparable terminology, or by
discussions of strategy, plans, or intentions. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in this release as anticipated, believed, or
expected. SBM Offshore NV does not intend, and does not assume any
obligation, to update any industry information or forward-looking
statements set forth in this release to reflect subsequent events
or circumstances. Nothing in this press release shall be
deemed an offer to sell, or a solicitation of an offer to buy, any
securities.
- SBM Awarded Contracts for ExxonMobil’s Second Liza FPSO
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