US$ 1.26 Billion: SBM Offshore Receives Investment From ExxonMobil for FPSO Purchase in Inaugural Oil Development Project

Written by Roberta Souza

Published on 11/11/2023 at 10:12

Reprodução google imagens / Energy Offshore

Be the first to react!

ExxonMobil, Renowned Energy Company From The United States, Made A Significant Payment Of Approximately US$ 1.26 Billion To SBM Offshore, Dutch Operator Specialized In FPSO

According to Offshore Energy, ExxonMobil, a giant from the United States in the energy sector, surprises the market by making an impressive payment of US$ 1.26 billion to SBM Offshore, a Dutch operator specialized in FPSOs (Floating Production, Storage And Offloading Vessels). This transaction marks a significant milestone in the development of ExxonMobil’s first oil project off the coast of Guyana.

The highlight of this agreement is the acquisition of the FPSO Liza Unity, the purchase of which allows ExxonMobil Guyana to take ownership of the unit, while SBM Offshore retains responsibility for operation and maintenance until 2033. This integrated operations model, initiated in 2023, has proven effective, combining SBM Offshore’s expertise with ExxonMobil’s operational excellence.

The net cash contribution, totaling around US$ 1.26 billion, will primarily be used to reimburse project financing, significantly reducing the net debt position of SBM Offshore. The robust financial strategy underscores the mutual confidence between the two companies in this offshore venture.

ARTICLE CONTINUES BELOW

Promising Future: ExxonMobil And SBM Offshore Drive Development In The Stabroek Block

The Liza field, located in the Stabroek block, is operated by ExxonMobil’s affiliate, Esso Exploration and Production Guyana, with partners Hess Guyana Exploration and CNOOC Petroleum Guyana. Currently, the block has two FPSOs: the Liza Destiny vessel, operational since December 2019, and the newest, the Liza Unity vessel, in production since February 2022.

The FPSO Liza Unity, anchored in a water depth of approximately 1,650 meters, is a milestone not only for its capacity to store 2 million barrels of oil, but also for being recognized by the American Bureau of Shipping with the SUSTAIN-1 notation. This is a unique achievement for SBM Offshore, being the world’s first FPSO to receive this distinction, highlighting its commitment to sustainability.

A Strategic Partnership Between ExxonMobil And SBM Offshore

The partnership between ExxonMobil and SBM Offshore does not stop there. Recently, SBM Offshore secured a contract for the engineering and front-end design (FEED) of a new FPSO, intended for ExxonMobil’s sixth deepwater oil development project in the offshore Stabroek block of Guyana. This will be the fifth FPSO constructed by SBM Offshore for operations in Guyana, further consolidating its presence in the market.

Based on ExxonMobil’s ambitious plans, the expectation is that by the end of 2027, six FPSO vessels will be online in the Stabroek block, achieving a gross production capacity of more than 1.2 million barrels of oil per day. This projection indicates the potential for up to ten FPSOs, demonstrating the magnitude of the recoverable gross resources discovered, estimated at over 11 billion barrels of oil equivalent.

Amidst this dynamic and promising scenario, the partnership between ExxonMobil and SBM Offshore emerges as a solid pillar in advancing offshore exploration in Guyana, marking a notable chapter in the quest for sustainable and innovative energy resources.

US$ 1.26 Billion: SBM Offshore Receives Investment From ExxonMobil for FPSO Purchase in Inaugural Oil Development Project

ExxonMobil, Renowned Energy Company From The United States, Made A Significant Payment Of Approximately US$ 1.26 Billion To SBM Offshore, Dutch Operator Specialized In FPSO

Promising Future: ExxonMobil And SBM Offshore Drive Development In The Stabroek Block

A Strategic Partnership Between ExxonMobil And SBM Offshore

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

The coastal El Niño is not the classic El Niño, but it already raises a question in Brazil: can the phenomenon alter rain, heat, and winter?

The commander of the Brazilian Army publicly admitted that the country now perceives real threats in South America, something that, according to him, did not exist in the past, and advocates for the increasing use of drones and technology to secure the borders.

In China, even those who beg on the street already have a QR Code, paper money has practically disappeared from daily life in just ten years, and the entire country has come to live on invisible payments via mobile phones.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Scientists considered detonating 213 nuclear bombs in the Sahara to create an artificial sea the size of El Salvador, with each explosion being a hundred times more powerful than the Hiroshima bomb, and the goal was to generate more energy than Egypt’s largest hydroelectric plant.

US$ 1.26 Billion: SBM Offshore Receives Investment From ExxonMobil for FPSO Purchase in Inaugural Oil Development Project

ExxonMobil, Renowned Energy Company From The United States, Made A Significant Payment Of Approximately US$ 1.26 Billion To SBM Offshore, Dutch Operator Specialized In FPSO

Promising Future: ExxonMobil And SBM Offshore Drive Development In The Stabroek Block

A Strategic Partnership Between ExxonMobil And SBM Offshore

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

While Brazil sits on the pre-salt and still imports diesel, Turkey, which produces almost no oil, crossed half the world to drill 7,500 meters below the sea in Somalia in search of its own fuel.

Why didn’t oil reach $150 even after three months of the Strait of Hormuz being closed?

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening

The coastal El Niño is not the classic El Niño, but it already raises a question in Brazil: can the phenomenon alter rain, heat, and winter?

The commander of the Brazilian Army publicly admitted that the country now perceives real threats in South America, something that, according to him, did not exist in the past, and advocates for the increasing use of drones and technology to secure the borders.

In China, even those who beg on the street already have a QR Code, paper money has practically disappeared from daily life in just ten years, and the entire country has come to live on invisible payments via mobile phones.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Scientists considered detonating 213 nuclear bombs in the Sahara to create an artificial sea the size of El Salvador, with each explosion being a hundred times more powerful than the Hiroshima bomb, and the goal was to generate more energy than Egypt’s largest hydroelectric plant.