While Brazil was indecisive about oil exploration in the Equatorial Margin, Guyana is going “from strength to strength” with a new FPSO project
Amid apparent stubbornness on the part of the Minister of the Environment, Marina Silva, and Ibama, Brazil is witnessing the loss of billion-dollar opportunities by not exploring the Equatorial Margin, located on the coast of Amapá. While Petrobras faces obstacles in obtaining authorizations, neighboring Guyana serves as an example, exploring more than 600 thousand barrels of oil per day and aiming for even more.
Recently, according to PetroNotícias, the Dutch company SBM Offshore announced that it had won a contract to carry out the Front End Engineering and Design (FEED) of a new platform ship (FPSO) for ExxonMobil. O FPSOs will be deployed in the Whiptail field, located off the coast of Guyana, and will be ExxonMobil's sixth deepwater oil development project in the so-called Stabroek block.
SBM Offshore contract with ExxonMobil: exploring riches in Guyana
The vessel is being designed to produce around 250 barrels of oil per day, in addition to having an associated gas treatment capacity of 15 million cubic meters per day and a water injection capacity of 300 barrels per day.
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The lack of action and apparent resistance regarding oil and gas exploration in Brazil, especially in the Equatorial Margin, represents a significant loss of economic opportunities for the country. While in Guyana, ExxonMobil and companies like SBM Offshore are looking for new ways to harness natural resources, Brazil is hesitant.
Second phase of the contract: future development
SBM Offshore is ready for the next phase of the contract once the FPSO project receives government approvals in Guyana and the ExxonMobil make your final investment decision. The company will begin construction of the vessel and, in accordance with contractual terms, ownership of the FPSO will be transferred to ExxonMobil at the end of the construction phase, prior to the start of operations in Guyana.
SBM Offshore will use its industry-leading Fast4Ward® program to design and build the FPSO. The company will use the Multi-Purpose Floater hull, its seventh new build, combined with several standardized topside modules. Anchored in a water depth of around 1.630 meters, the FPSO will have the capacity to store approximately 2 million barrels of crude oil.
Opportunities in Guyana
Guyana is seizing opportunities in its deep waters, attracting significant investment and promoting economic development. With cutting-edge technology and strategic partnerships, neighboring countries are shaping the future of oil exploration in the region, while Brazil sees everything happen.